Friday, 6 July 2018
Updated Technicals of Development Bank of Singapore (DBS): 6 July 2018, Friday, 12.59pm Singapore Time
Updated Technicals of Development Bank of Singapore (DBS):
6 July 2018, Friday, 12.59pm Singapore Time
(Click on Technicals above to Expand)
Attached is the updated Technicals for DBS. The red circled regions are Super-cycle resistances. The first green circled region is where and when the Super-Cycle Uptrend Confirmation had been achieved for DBS Bank. Markets are currently using the supposed 2nd-ABSD property cooling and the supposed trade war to backtest the Super-Cycle Resistance-Turned-Support Band in Black. The 2nd green circled region is the backtest as shown by the blue trajectory. After this backtest, DBS is projected to hit $25.00+$17.50 = $42.50 based purely from technicals (refer chart to see the TA-mathematics). However, my expectation of DBS based on forward fundamentals and of the bank riding the digital tide well as a front-runner will mean that my $53.42 target staunchly remains. Shorting is high risk, buying and investing is low risk with high rewards. DBS is expected to follow the dark blue trajectory.