DBS Target Price: $53.42 using The Donovan Norfolk Fundamentals-Logic Forward Valuation Metrics Regressed to Current Point in Time: 12 February 2018, Monday, 9.20am Singapore Time

DBS Target Price: $53.42 using The Donovan Norfolk Fundamentals-Logic Forward Valuation Metrics Regressed to Current Point in Time:

12 February 2018, Monday, 9.20am Singapore Time

Dividends is carved out from Earnings Per Share, making a fixed proportion of Earnings Per Share.

From 2018 on, DBS Group Holdings will pay $1.20 per share in annual dividends from 2018 onwards - double the payout in three of the past four years. This is statement of guarantee from a reputable bank with words of credibility. This is a result of robust profits projected for the next few years. And the projection will rarely be wrong with such a statement on dividend guarantee.

At a share price of $26.71 as of DBS closing price of its shares on Friday, 9th February 2018, dividends of $1.20 per annum presents a 1.20/26.71 = 4.50% per annum dividend yield. This represents a 400% dividend yield over fixed deposit rates and way over SIBOR and LIBOR rates. Any smart monies worldwide will flood in and rush to buy up as much DBS shares as possible. Because shares of DBS Bank is now a world class asset to have when considering its track records, reputations, Temasek-backing, and solid management which have high integrity.

Note let us apply reverse logic flow that all Artificial Intelligence A.I algorithms will use to derive valuation metrics. Assume we want to half that dividend yield from 4.50% to that of 2.25% which is still a reasonable dividend yield rate for companies. This is still a 200% dividend yield compared to fixed deposit rates and is reasonable. This dividend yield of 2.25% is assuming nothing changes, Earnings Per Share did not increase, it was stagnant and nothing fundamental changed, and dividends is still $1.20. This reasonable dividend yield of 2.25% is a result of DBS shares price being 26.71 x 2 = $53.42 to still give a reasonable dividend yield of 2.25%, i.e. DBS shares priced multiplied by 2 to give a halved-yielded dividend yield of 2.25%. This means from dividend aspects, even if DBS Bank is worth $53.42 per share currently, ceteris paribus with EPS remaining constant, the dividend yield is still acceptable. This makes DBS Bank tentatively very undervalued.

Now as we know, dividends is possible only when EPS flow into the company is possible. DBS current Price-Earnings Ratio is 16.00. Assume $1.20 per share dividend is given out in the next few years as guaranteed by DBS because of bright earnings prospects. Assume come next year 2019 DBS disappointed, its EPS had ZERO growth despite under the umbrella of such bright economic prospects, rising rates environment and strong growth rates, and its dividends is as expected $1.20 per share. With a share price of $53.42 as derived earlier as reasonable, its dividend yield would be 2.25% in 2019 if shares price had increase 2x (2 folds) but Earnings Per Share and Dividends Per Share remained stagnant. At a price of $53.42 per share, with such terrible corporate results as assumption (which is close to impossible), the dividend yield will be 2.25% and the Price Earnings (PE) Ratio will be 32.00. A PE ratio of 32.00 is not even considered as high or expensive under NYSE evaluation metrics (international standard), and a dividend yield of 2.20% is not considered as unreasonable. In NYSE evaluation metrics (international standard guide), a PE ratio of 50 or more is then considered as high.

With the fundamentals-logic forward valuation metrics being established at above, i.e. $53.42 as target price with dividends of $1.20, 0% Earnings growth (sick circumstance), dividend yield rate of 2.25% and PE ratio of 32.00, this makes DBS share price of $26.71 extremely undervalued. It is too depressedly cheap. It is SEVERELY UNDERVALUED because at an immediate share price of $53.42 without any fundamental change to fundamentals under a bull market, this share price is still considered reasonable, and not even overvalued.

This enables us to conclude that DBS share price of even under $30.00 as a cheap bargain and a stealer, not to even mentioned a share price of $26.71 per share, which is ridiculously cheap and such a must-have, considering DBS is highly respected, has very sound banking expansion plans and credible management. Expect a hot rush of monies to flood into DBS equities. Only fools call it expensive because they peg their consciousness to the past and not the future, which is surely the greatest sign of a big fool.

The Donovan Norfolk Fundamentals-Logic Target Price on DBS:

Increase Target Price from Technical Analysis derivation of $40.00 a share to Fundamentals-Logic derivation of $53.42 per share

DBS Share Prices are EXTREMELY UNDERVALUED right now:

Note:
When a bank is at too cheap a valuation, of below 15, or even worse less than 10, we should be highly cautious. PE ratio projection is used only when a company is at healthy level of above 15 but way below 50, and backed with solid earnings growth with earnings momentum very destined to continue.

Additional Side Notes:

Characteristics of a Banking Sector Bull Run: 
Markets like to do 2.0 to 3.0 folds the normal-run PE valuation during the accelerated phase of a banking stocks rotated bull run. Price keeps experiencing constant pressure to move 2x-3x upwards the earnings while letting earnings to catch up later, until the process produces an effect in which the earnings cannot consistently catch up and it becomes a shorting market.

 In the accelerated run-up of banking sectors' bull runs, banking stocks do not have low PE ratios. The risk appetites are high.

Prices will run first, letting earnings catch up later, the process repeating (bull market) until earnings consistently are not able to beat expectations and it becomes a selling and shorting market (bear market).

Supercycle Extrapolation of DBS Bank as Attached

Apply computer science logic again: 
it was already derived that $54.32 is not an unreasonable price as target, on supercycle technicals this means DBS will break up the resistance of the black line. This means DBS Bank will have very good probability of hitting the upper most resistant area of the Green Trend Line in the super-cycle.

Donovan Norfolk Ang

DJIA and the Asian Broad Markets using Malaysia as Example: 12 February 2018, Monday, 2.45am Singapore Time

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

Note:
Malaysia is used here as a representative example of an Emerging Market (EM) in Asia

In 2H-2012 to 2H-2015, for each of the years in 2012, 2013, 2014 and 2015, I had said that the US Quantitative Easing would not benefit Asian markets during each of those years in general.

I also warned that Asian stock markets' broad markets will cause most people to lose a lot of money during those years while indexes are made to look strong (using strong index to sell the broad markets so that most people lose most money). Indeed, it went mostly true per my fore-warnings. 

Currently, we are on the reverse cycle. While indexes are being made to look so weak recently, broad markets are generally not joining in sharp sell-off. Only retailers and the public are selling to smart hands. This is why we are still in a large bull market.

Most people would had sold off and gotten out wrongly and miss the next major wave of bull markets in Asia. This is like the case of 2H-2012 to 2H-2015 where people in Asia and Europe lost money buying instead of selling in the FED loosening, except that now the reverse is enacting with people selling instead of buying in the FED tightening. This is all mind-ripping for most people in most parts of the world, where they will once again lose money (huge opportunity costs) doing the wrong things because they think by logic, yet their logic are often wrong. Let us see some examples of broad markets generally not selling with indices, using Malaysia as a case study. This is where it reflects the real strength and real bull market having a new next wave in Asia. 

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Malaysia as Example: 

12 February 2018, Monday, 2.45am Singapore Time

(Click on Technical Chart above to Expand)

Certainly, some stocks in broad markets will fall. However, we will expect their falls to be much worse than the index market. So far the broad markets' falls have far fallen short of the falls in index markets. Under normal circumstances, the broad markets should plunge 2x to 4x, with a mean of 3x plunge in prices when pegged to indices due to much higher beta and not allowing for stocks to even have a higher low if it is a bear market. Also, anything less than such a mean plunge is bullish even if a correction is just on par to indices. The soldiers in general are not very willing to follow the generals in this index correction.

This was the same case in exact reverse-manner in 2H-2012 to 2H-2015 where DJIA rallied and indexes were strong but caused most people to lose money in Asia and Europe. Except that now, the indexes are used to cause fear to most people at the reverse way. Just like how people were duped by indices and hence lose a lot of money per my forewarnings of 2H-2012 to 2H-2015, people will now miss significant bull rally in Asia for the next few years because they are duped by the indexes once again.

This is one of the many ways to discern a bull market from a bear market. We are in a bull market where 80% of stocks will go up as a big tide.

Donovan Norfolk Ang

DJIA and the Asian Broad Markets using Singapore as Example: 11 February 2018, Sunday, 11.53pm Singapore Time

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

Note:
Singapore is used here as a representative example of a Developed Market (DM) in Asia

In 2H-2012 to 2H-2015, for each of the years in 2012, 2013, 2014 and 2015, I had said that the US Quantitative Easing would not benefit Asian markets during each of those years in general.

I also warned that Asian stock markets' broad markets will cause most people to lose a lot of money during those years while indexes are made to look strong (using strong index to sell the broad markets so that most people lose most money). Indeed, it went mostly true per my fore-warnings. 

Currently, we are on the reverse cycle. While indexes are being made to look so weak recently, broad markets are generally not joining in sharp sell-off. Only retailers and the public are selling to smart hands. This is why we are still in a large bull market.

Most ignorant smart aleck people will had sold off and gotten out wrongly and miss the next major wave of bull markets in Asia. This is like the case of 2H-2012 to 2H-2015 where people in Asia and Europe lost money buying instead of selling in the FED loosening, except that now the reverse is enacting with people selling instead of buying in the FED tightening. This is all mind-ripping for most people in most parts of the world, where they will once again lose money (huge opportunity costs) doing the wrong things because they think by logic, yet their logic are often wrong. Let us see some examples of broad markets generally not selling with indices, using Singapore as a case study. This is where it reflects the real strength and real bull market having a new next wave in Asia. 

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

DJIA and the Asian Broad Markets using Singapore as Example: 

11 February 2018, Sunday, 11.53pm Singapore Time

(Click on Technical Chart above to Expand)

Under normal circumstances, the broad markets should plunge 2x to 4x, with a mean of 3x plunge in prices when pegged to indices due to much higher beta. Anything less than such a mean plunge is bullish even if a correction is just on par to indices. The soldiers are not following the generals in this index correction.

This was the same case in exact reverse-manner in 2H-2012 to 2H-2015 where DJIA rallied and indexes were strong but caused most people to lose money in Asia and Europe. Except that now, the indexes are used to cause fear to most people at the reverse way. Just like how people were duped by indices and hence lose a lot of money per my forewarnings of 2H-2012 to 2H-2015, people will now miss significant bull rally in Asia for the next few years because they are duped by the indexes once again.

This is one of the many ways to discern a bull market from a bear market. We are in a bull market where 80% of stocks will go up as a big tide. If your minds are ripped apart by me once again, I am sorry about that.

Donovan Norfolk Ang

Where are we now in this fearsome correction? (Updated)

Chart:

Where are we now in this fearsome correction? (Updated)

(Click on Illustration Above to Expand)

The blue circle illustrates where we are now after overnight Wall Street Actions.

Donovan Norfolk Ang

Where are we now in this fearsome correction?

Chart:

Where are we now in this fearsome correction?
(Click on Illustration Above to Expand)

Do study the trajectory in detail to know where we are in the correction. The entire red trajectory is used fiercely by worldwide smart monies to back-test supercycle supports all over the world.

Often, most people will crack under enormous fear and high intense pressure, because they do not have a real guardian's light and true mentor's map. 

We are still in a large bull market. Do not be affected by noises.

Donovan Norfolk Ang

Hengyuan Refining Company (KLSE: 4324): 8 February 2018, Thursday, 11.17am Singapore Time

Hengyuan Refining Company (KLSE: 4324): 

8 February 2018, Thursday, 11.17am Singapore Time

(Click on Technical Chart above to Expand)

Attached above is a major portion of the Super-Cycle Technical Chart of Hengyuan Refining Company (KLSE: 4324). 12.50-13.00 is a Super-Cycle resistance that has been made the Super-Cycle support now. The great fear of the first half of February of 2018 has been used to backtest strong stocks' supports all over the world, with strong stocks such as Hengyuan holding their Super-Cycle resistance-turned-supports with relative ease. In addition, there were also deliberated huge volumes that rushed in to support Hengyuan's newfound Super-Cycle support at 12.50-13.00 range. 

With all these supports back-tested successfully in the high-stress test of February of 2018, Hengyuan can now have 2 Technical Target Price Targets established now. With milestone pivot casted at 19.00, and using historical precedents of similar stocks all over the world for projection, Hengyuan now has two Technical Price Targets as below:

1. Target Price 1 = 2 x milestone = 2 x 19.00 = 38.00

2. Target Price 2 = 3 x milestone = 3 x 19.00 = 57.00

With the above in mind, and with upside being large and indefinite, Hengyuan will become the next super blue chip titan in Malaysia as well as a key component index stock of the KLCI Index in future. Hengyuan is rated by the Donovan Norfolk Technical Rating as within the top 8 buys in the Malaysia Bursa in January 2018. 

The Donovan Norfolk Technical Rating:

Bullish with Indefinitely High Upside

Reference:

http://donovan-ang.blogspot.sg/2018/01/commodities-cyclical-upturn-to-come.html

https://donovan-ang.blogspot.sg/2018/01/crude-oil-target-us175-to-us180-per.html
https://donovan-ang.blogspot.sg/search/label/Reuters-Jefferies%20Commodities%20CRB%20Index
https://donovan-ang.blogspot.sg/2018/01/the-us-dollar-super-big-downwave-28.html
http://donovan-ang.blogspot.sg/2017/10/baltic-dry-index-shipping-industry-and.html

Additional Related (Optional to read):
https://donovan-ang.blogspot.sg/search/label/Light%20Crude%20Oil
https://donovan-ang.blogspot.sg/search/label/Hibiscus%20Petroleum
https://donovan-ang.blogspot.sg/search/label/SembCorp%20Marine

https://donovan-ang.blogspot.sg/search/label/Keppel%20Corp

Top 8 Commodity Stocks of Malaysia:
(These trenders will continue to go trending up powerfully and widen the gap from the pack)
http://donovan-ang.blogspot.sg/2018/01/commodities-cyclical-upturn-to-come.html

Donovan Norfolk Ang

Updated Important Note: 7 February 2018, Wednesday, 9.27am Singapore Time

Updates and Highlight

<< Updated Important Note >>

Worldwide Smart Monies have taken profits of substantial amount of bearish puts now, all over the world. Note that international correction has been around 80% (4/5 done) completed, there is still some chance of completing the 20% (1/5) uncompleted move to set a slightly lower low to end the correction. This means current rebound may still be attempted to be overtaken by the bears but is for buying the bottoms now.

This final uncompleted 20% (1/5) to go to end the correction may take another 2 weeks to bottom out. This will be frustrating to most people.

In markets worldwide, Commodity Stocks, Crude Oil Stocks, Energy Stocks, Raw Material Stocks, Shipping Stocks and Shipbuilding Stocks remain the top buys for 2018 Sector Rotation.
Do not short, do not put, especially the strong stocks like banks.

Cross-Reference:

https://donovan-ang.blogspot.sg/2018/01/reuters-jefferies-crb-index-commodities.html

Donovan Norfolk Ang

VIX Characteristics and Implications: 6 February 2018, Tuesday, 9.52am Singapore Time

VIX Characteristics and Implications: 

6 February 2018, Tuesday, 9.52am Singapore Time

(Click on Technical Chart above to Expand)

Attached is the technicals for the VIX Index, a measure of the fear index and is heavily influenced by puts options in the market. The 1st green circle is where markets sold off which then bore fruits in the greatest tech stocks rally worldwide, with the NASDAQ creating all time new highs. The 2nd green circle is where markets sold off sharply in a short time which then bore fruits in super rally of bank stocks worldwide, sending DJIA and S&P500 into all time highs. The 3rd green circle is where we are now, this time round it will bear fruits in commodity stocks, energy stocks, crude oil stocks, oil related O&G stocks, shipping stocks, shipbuilding stocks, and a great bull rally in Emerging Markets. Market crash of any bear market will never allow for time to brew slowly in VIX which allows for Walls of Worries and Fear to be set up. These spikes in fear are needed in bull markets to confirm bull markets, yet effective in throwing confusion smoke bombs into the herd who will sell everything on panic and fear. The markets are catching the currently high amount of margins out there, to take over their positions cheaply. Those who are shorting, on the other hand, do be sure you are not shorting strong stocks such as banks, because the punishment when this ends will be heavy.

Donovan Norfolk Ang

JAKS: 4 February 2018, Sunday, 11.59pm Singapore Time

JAKS: 

4 February 2018, Sunday, 11.59pm Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the technicals for JAKS Resources, a company that is listed in the KLSE. The Dark Orange Circled region is the High Volume Fake Gap-Down Region which shows enormous buying. This is a deliberate price rejection of a big gap-down with sharp price action rebound and high volume flow. This is very bullish in nature. The entire major big wave of price rejection ended at 1.79 with explosive and deliberated volumes. 3.58 is the next target of this entire wave of price-rejection price actions. The 2nd set of fake gap-down is indicated by Yellow Region. The Trinity of backtests as indicated double confirm the resumption of big uptrend. There had been no selling interest among the big hands based on volume flow in Red. The buying interest with market absorption of sellings are indicated in the volume flow in Green. It is a signal of intention to rally strongly. JAKS has broken up milestone mark at 1.79 with high volumes. Bullish intentions. Buy on dips on Monday 5 February 2018.

Based on volume flow and price actions, JAKS' next target is at least 3.58 representing an upside of at least +100% from here.

The Donovan Norfolk Technical Rating:

Very Bullish
(Strong Buy)
(JAKS To Continue To Set Historical Highs Never Seen Before)

(JAKS Expected to rally for the rest of 2018 and into 2019)

Additional Note:
Malaysia-KLSE equities are available for trading and investing in Singapore.
KLSE stocks are much higher beta than Singapore SGX in general and offers tremendous potential when they go up, because KLSE is a market with very high-beta rallies when they do rally.

Donovan Norfolk Ang

Hengyuan: 2 February 2018, Friday, 8.57am Singapore Time

Hengyuan: 

2 February 2018, Friday, 8.57am Singapore Time

Attached is the technicals for Hengyuan, an oil stock listed in the Malaysia KLSE. The orange circled region is my live warnings in 1H-2016, 2H-2016 and 1H-2017 calling for buys on quality oil stocks, during which I picked up Hibiscus Petroleum Bhd (KLSE: 5199) at 0.29-0.30 (refer to: http://donovan-ang.blogspot.sg/2016/10/hibiscus-petroleum-20-october-2016.html). Hibiscus has already given me at least +300% profits. In 1H-2016, at US$30 per barrel, when the world was calling for US$10 per barrel crude oil, I declared in my live analyses that $US30 per barrel would be the rock bottom for oil.

In Technical Price Structure, Hengyuan is long term uptrend, mid term sideways and short term correction. This ensures maximum confusion smoke bomb is thrown into the market to confuse traders and investors.

Hengyuan has already done a regression to the mean; not only that, it is also doing a backtest of the long term support. Strong stocks normally have their supports tested successfully. There was also a humongous volume of support for Hengyuan in January of 2018. This is a volume absorption of all previous red volume sells. Even if Hengyuan breaks the support and goes below blue channel support, it will make another new channel to progress with an entirely new channel of uptrend. This is because it has previously broken the light blue resistance of the blue channel with fundamentals supporting it.

Hengyuan is within the blue channel as illustrated. Based on Channel progression, Hengyuan's next target is $38.00. If it becomes a large cap stock which is likely the eventual case, it will be included into the KLCI as an index constituent stock in the future.

The Donovan Norfolk Technical Rating:

Bullish
(Hengyuan To Continue To Set Historical High Never Seen Before; it is supported by economic cycle fundamentals)

(Expected to rally for the rest of 2018 and into 2019)

Past Related Analyses (MUST READ IN DETAIL):

http://donovan-ang.blogspot.sg/2018/01/crude-oil-target-us175-to-us180-per.html
https://donovan-ang.blogspot.sg/search/label/Reuters-Jefferies%20Commodities%20CRB%20Index
https://donovan-ang.blogspot.sg/2018/01/the-us-dollar-super-big-downwave-28.html
http://donovan-ang.blogspot.sg/2017/10/baltic-dry-index-shipping-industry-and.html

Additional Related (Optional to read):
https://donovan-ang.blogspot.sg/search/label/SembCorp%20Marine

https://donovan-ang.blogspot.sg/search/label/Keppel%20Corp

https://donovan-ang.blogspot.sg/search/label/Light%20Crude%20Oil

https://donovan-ang.blogspot.sg/search/label/Hibiscus%20Petroleum
https://donovan-ang.blogspot.sg/search/label/Chesapeake%20Energy%20Corp

Donovan Norfolk Ang

Development Bank of Singapore (DBS) Target Price $40.00: 1 February 2018, Thursday, 9.45am Singapore Time

Development Bank of Singapore (DBS) Target Price $40.00: 

1 February 2018, Thursday, 9.45am Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the technical chart of DBS Bank from the year of 2000 to 2018. The green circled region is The Donovan Norfolk Live Warnings back in 1Q of 2016 with repeated reiterations in entire 1H of 2016 to scoop the bottoms. Back in 1H-2016, the world markets were crashing, 99% of all market participants shouted for crash and warned one another about market crash to come, and Singapore was poised to go into Technical Recession which Singapore eventually did. I flipped from my 2015 bearishness into high bullishness at the precision point in the green circled region, and warned that 1Q-2016 and 1H-2016 would make the major bottom for scooping up of quality stocks such as Asian Banks and Singapore Banks.

DBS Bank has broken up critical super-cycle resistance per my 2016 and 2017 forewarnings that it would do so, despite technical recessions and weak economy prevailing back then. The projected upside target now stands at $40.00 as target price and represents an updated target price over-riding the previous target price of $33.00-$36.00. DBS will become one of the big powerful banks in the region, in Asia and probably a titan in the world stage. In case you are wondering, the series of "D"s in the chart are dividends, big fat dividends given out consistently to shareholders. This is what makes a true blue chip -- fat dividends and significant price appreciation.

The target of $40.00 represents multiple-fold profits from my scoop-the-bottom buy-ins and still represents significant profits from current point considering that this is a heavyweight titan with bright profit growth prospects. In fact so many followers are sitting on very deep profits right now. Just last year December, one disciple, or you can call as apprentice of mine, made it into the millionaire list after years of hard work, picking up painstakingly my skills, techniques and knowledge from the top professional me.

Anyone who consistently tries to outsmart the market will be outsmarted by the market consistently and reliably, punishing the out smarter, turning the out smarter into a smart alec, and reducing the smart alec into a complete fool. This is a market holy grail that has rarely gone wrong over the long run, as reliable as the probability-expectation theories.

The Donovan Norfolk Technical Rating:

Continue to be Very Bullish

Related References:
http://donovan-ang.blogspot.sg/search/label/DBS

Donovan Norfolk Ang

Tenaris S.A (NYSE: TS): 31 January 2018, Wednesday, 1.43pm Singapore Time

Tenaris S.A (NYSE: TS):

31 January 2018, Wednesday, 1.43pm Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the technicals for Tenaris S.A, a metals fabrication company that is incorporated in Luxembourg and listed in the US Market of NYSE. Tenaris' operations span around the globe. Their industrial system integrates steelmaking, pipe rolling and forming, heat treatment, threading and finishing across many countries. Tenaris is a leading supplier of metal tubes and related services for the world’s energy industry and certain other industrial applications. The orange region is the fake gap-down volume where accumulation occured. The 2 light green circled regions are high volume accumulations. Dark green region is another round of buying, this time with full control. The island reversal is illustrated in purple. Tenaris has changed to resume a long term uptrend with $31.50 being used as the neckline for significant re-accumulation. Current prices are a strong buy.

The Donovan Norfolk Technical Rating:
Very Bullish
(Strong Buy)

Donovan Norfolk Ang

Development Bank of Singapore (DBS): 31 January 2018, Wednesday, 9.28am Singapore Time

Development Bank of Singapore (DBS): 

31 January 2018, Wednesday, 9.28am Singapore Time

(Click on Technical Chart above to Expand)

Using overnight consecutive dips from Wall Street, DBS has now been set up for immediate buying for February of 2018. Any price that is put up on offer at the sell queue for 31 January of 2018, just grab. This represents final chance to buy cheaply, to average up or to add on dips.

The Donovan Norfolk Technical Rating:

Continue to be Very Bullish

Related References:
http://donovan-ang.blogspot.sg/search/label/DBS

Donovan Norfolk Ang

Exelixis Inc (NASD: EXEL): 30 January 2018, Tuesday, 3.28pm Singapore Time

Exelixis Inc (NASD: EXEL):

30 January 2018, Tuesday, 3.28pm Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the technicals for Exelixis, a company that is listed in the NASDAQ. Exelixis is a genomics-based drug discovery company, and the producer of Cometriq, a treatment approved by the FDA for medullary thyroid cancer with clinical activity in several other types of metastatic cancer. It holds a number of high value biomedical patents. The orange region shows the first high volume absorption of Exelixis at $24 region. Blue circled regions are the deliberate volume absorptions at $23-$28 region. Green circled regions are impulsive buys at $25-$28 region. Fellow smart monies in Wall Street have a lot of deliberate buys on Exelixis at $23-$28 region in conclusion. We are currently not far from their buys. Expect +100% upside from this stock. This stock is supported with moving average rising uptrends.

The Donovan Norfolk Technical Rating:
Very Bullish
(Strong Buy)

Donovan Norfolk Ang