We have seen the good days for DBS since 2009 and 2014 where DBS rallies up to a good high and made many traders good $$$. The $16.00 level has been a very important level to take note. It can act as a support and rebound from there (2006, 2007, 2013, 2014) or it can also act as a resistance (2010, 2011). Once the $16.00 level breaks down, it can plunge $8.00 within a month (2008). What is the best bet at this time? Current price of DBS is $16.33.
1. Is it the best time to exit longs?
2. Is it the best time to go into shorts with stop loss at $18.00 and potential gain of another $8.00 if it plunges again?
3. Wait for it to cross $16.00 before shorting?
4. Add into longs for a rebound?