Stocks, Forex, Bonds, Indices, Commodities. World Financial Markets.
The Top Holistic Analysis Site.
Learning to be successful means learning from the successful people how they breathe, how they think and how they translate thoughts into actions.
- Donovan Norfolk
Click "Like" to Receive First Hand Updates From The Analysis Site / Click "SHARE" to share
Monday, 3 February 2014
DBS Bank: 3 February 2014, Monday, 12.30am Singapore Time
DBS: 3 February 2014, Monday, 12.30am Singapore Time
Chart courtesy of Chartnexus.com
Attached above is the Technical Analysis of DBS Bank.
There were 3 huge unloads in all.
This entire long term distribution is in the ending phase and transiting into the sharp marking down sell-off phase.
In the strictest sense, the mark-down stage has officially started as illustrated above with breakdown of $16.68-$16.70 as well as a first successful backtest.
As DBS is a strong stock, it may execute a 2nd successive backtest at a slightly higher point, and this would present the last opportunity to get out or short. However, this should not be taken for granted as the breakdown is with volume following 3 prior high unloads by Smart Monies and BBs in the market.
Donovan Norfolk Judgement:
Highly Bearish for the long term.
Unload/Sell/Short on every Rebound Worldwide Bank Stocks Bearish now
As Banking and Financial Sector are the arteries of economic activities, this further signals weakness in stocks, equities and financial markets worldwide.