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Friday, 27 July 2018

FTSE ST Financial Index, DBS, UOB and OCBC: A Comparision, 27 July 2018, Friday, 8.55am Singapore Time


FTSE ST Financial Index, DBS, UOB and OCBC: A Comparision, 
27 July 2018, Friday, 8.55am Singapore Time
(Click on Technical Chart above to Expand)

Attached is the Technicals for FTSE ST Financial Index, DBS, UOB and OCBC. The FTSE ST Financial Index is used as the benchmark for comparison. The financial index whipsawed below the band of moving averages during this healthy correction. This correction caused the herd to read the market as all supports broken (naive reading) and caused them to exit the markets completely. Markets used this chance, when the 90% herd are out and most traders are shorting, to rally strongly. This will cause maximum damage to the herd.

During this correction, volumes were low meaning the stocks were passed from the weak mental strength herd to the hands of the smart monies. In the comparison analysis, DBS and UOB outperformed the benchmark financial index, refusing any whipsaw along the way. OCBC was on par with the benchmark and hence the weakest bank among the 3 Singapore Banks. DBS only gently touched the 200EMA showing why it had been the strongest bank among the 3 local banks in Singapore. If one is buying any bank stock and is spoilt for choice, then DBS is the top bank stock of Singapore.

Side-Note:
DBS Bank is the Top Stock of Entire Singapore SGX in The Donovan Norfolk Ranking of All Stocks.

Additional Note:
Worldwide bank stocks are expected to shoot through the roof in 2H-2018 and 2019. More waves of super rally in equity markets can be expected in 2H-2018, 1H-2019 and 2H-2019 -- amidst the backdrop of 80% market majority having the conviction of a bear market coming.

Important Cross-Reference:
http://donovan-ang.blogspot.com/2018/07/spdr-financial-select-sector-index.html


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