Development Bank of Singapore (DBS):
27 June 2018, Wednesday, 11.25am Singapore Time
(Click on Technical Chart above to Expand)
Attached is the Updated Technicals for Development Bank of Singapore (DBS), the best bank in Asia-Pacific. Its technical structure is as follows: Long Term Uptrend; Mid Term Uptrend; Short Term Ichimoku Laggard Line backtesting Ichimoku Uptrend Cloud together with Tenkan-Kijun Pair backtesting the Forward Cloud as well (refer to all green circled regions). The volume was not enthusiastic during correction, meaning retail traders were shorting while smart monies were busy loading up at the buy queues using fear. A re-capture of $27.52 will spur a mother of all short squeezes -- people who traded counter-trend against the main uptrend (poor reward-risk ratio: one shall never short against strongest stock of entire SGX). I will put in 3 additional tranche of buys once (1) $27.52 gets taken out upwards (Tranche 1); (2) $28.79 gets taken out upwards (Tranche 2); (3) $29.47 gets taken out upwards (Tranche 3).
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