Tuesday, July 21, 2015

DBS: A firm breakout above 21.20 seen previously?

More upside towards 22.00?

Sent: Thursday, July 16, 2015 9:32 AM
Subject: ************* DBS: A firm breakout above 21.20, more upside above from here, price 21.35
DBS has been trading sideways below the 21.20 critical resistance level since April and hovering consistently above the 200 day LONG term MA line positively. Today we have seen a convincing breakout above the 21.20 resistance level on above average volume and this can put an end to the sideway consolidation phase. Target to 22.00 in the near term likely. Both 100 and 200 day moving averages have been pointing upwards consistently with uptrend still intact. As long as 21.00 – 21.20 is a new support now, we are positive and can ride the upside further. MACD has turned positive especially with today’s price action with RSI also showing strength building.

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