Can the 18.00 hold now?
Sent: Thursday, August 20, 2015 10:36 AM
Subject: ************DBS: Breaking below the 18.50 support further.... price 18.41
Subject: ************DBS: Breaking below the 18.50 support further.... price 18.41
Dbs has hovered above the 18.50 support level for about a week but today we have seen a clear breakdown below it on strong volume. Trading below this support turned resistance now can be a short term negative to 18.00 then 17.60 as mentioned previously. Can expect more downside along with the general market as long as 18.50 is a resistance now so those looking to accumulate on dips, be nibble and can consider some near the next key support levels. MACD indicator still showing negative momentum with RSI also surging lower. Cautious long. 20 day MA line on the verge of crossing below the 200 day longer term MA line which can signal a potential trend reversal downwards at the beginning phase.
Sent: Wednesday, August 12, 2015 11:50 AM
Subject: DBS: Back to support at 18.50, can accumulate on dips on more weakness as it stabilises.... price 18.73
Subject: DBS: Back to support at 18.50, can accumulate on dips on more weakness as it stabilises.... price 18.73
DBS has broken below the 19.00 support level today furiously on general market weakness and headed to a low of 18.50 which would be the new support level. This was the resistance formed from July to Nov last year which has now turned support. Those looking to accumulate on dips some blue chips on a bargain can consider near 18.50, 18.00 then 17.60 on any dips to take part in any rebound.
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