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Stock Chart: DBS!
By Dou  •  July 2, 2012

On Monday, DBS re-test the resistance at $14 and closed at $13.99 with HIGH volume of 4.082 million shares traded.

A hanging man occurred (a hanging man has a very long lower shadow and a small real body).  This pattern can be bullish or bearish, depending on the trend.  If it occurs during an uptrend, it is called a hanging man line and signifies a reversal top.  If it occurs during a downtrend it is called a bullish hammer.

RSI & MACD are bullish as RSI trend upwards.

Immediate Resistance of DBS: $14

Immediate Support of DBS: $13.79

Currently prices are supported by 50 days MA at $13.79.

Today prices have re-test the resistance at $14 with high volume but failed to break out. The hanging man candle stick has formed instead. This is a bearish signal

The resistance at $14 is expected ...

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By Dou
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