DBS: More weakness ahead with support breaking down? Price 24.60

Over the past few weeks, we have seen tensions between US and China escalating and hence market weakened further..

Some of the banking stocks like DBS were also showing some signs of weakness..

Firstly, they have broken below short term moving averages like the 20 day MA…

AND also key support levels which were holding previously did not manage to hold..

Some downside targets were drawn as a result where we could potentially break the 26.00 last week, see DBS chart below…

First target was to 25.00 and we have already hit that target over the past few days…

Buyers were trying to defend this level and it was holding well last week but…

It seems like they just cannot hold on any longer…

A breakdown of 25.00 seen yesterday and this level also coincides with the 200 day moving average…

Targets were reiterated lower on this bearish price action…

We are pushing lower today with a new low at 24.58..

Well, we can expect some slight support at 24.50, but if that gives way, likely to see next downside target playing out gradually..

Short term trend indicators are still pointing lower for now…  Let’s watch..

Capitaland: Selling still continuing.. Targets on tracked? Price 3.28.

Just 2 weeks back, we saw some bearish price actions in Capitaland with it breaking down below the 3.45 support level..

Short term trend indicators were starting to show a reversal after a recent high at around 3.70..

It was also approaching the 100 day MA line and a potential breakdown of that looks highly possible too..

Hence, some downside targets were drawn…

First target was at about 3.30 where we may see some short covering…

Over the past week, we have already hit our 1^st downside target…

The 2nd target to the south may still be playing out with a new low at 3.28 today..

Target were reiterated again last week as seen..

3.00 would be a really good support level where we can expect some good buying pressure to return…

Will see if we can head towards there amidst more market weakness…

Genting Sing: Selling pressure still continuing? Price 0.895

Over the past 2 months, we have started to see some weakness in Genting Sing with it breaking below the 1.05 support…

Short term trend indicators were also starting to turn lower after it hit a recent high at 1.15..

Seems like buyers were losing strength and not able to take prices higher..

Coupled with a weaker market in general, some downside targets were drawn…

With our first target hit at 0.95 last month..

We started to see some consolidation above it but there was still a potential break down of this support…

Finally, last week, some bearish price actions was spotted and downside targets were revised lower…

Towards 0.85 next… Downtrend still intact it seems,

We have broken the psychological 0.90 level over the past few days and seems like targets still on tracked…

Would likely see some buyers coming back near 0.85… hope this level holds.. if not, more weakness not ruled out..

ST Engineering - Uptrend still looking strong despite temp sell down.. Targets revised? Price 3.95

Just at the beginning of the year, there were some signs of reversal in ST Engineering…

We could see price attempting to break the 3.60 resistance bullishly and buyers looked like they were ready after the 1 year consolidation..

Trend indicators were also starting to point towards an uptrend forming…

Hence, some upside targets were drawn as seen…

Over the past month, we have seen our targets hit and it had even broke above the multi-year high at 3.85..

Price started to push higher towards our revised target at 4.10 however…

Over the past few days, the market weakened due to US China trade war tensions escalating again and it sold off..

Buyers started to returned near the 3.85 new support and the uptrend still looks intact…

Will continue to see if next targets can be hit… 4.00 need to get out of the way first…

One of the few good uptrend continuation stocks to ride further as long as rules are met…