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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.


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