Shares & Derivatives
Stock Chart: DBS, SGX!
By Dou  •  December 6, 2010
On Monday, DBS re-tests the resistance at $14.10 and closed at $14.08 with LOW volume of 1.93 million shares traded. Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish. Both RSI & MACD are bullish as MACD just perform a “golden cross” recently. Important Resistance of DBS: $14.10 Immediate Support of DBS: $13.82 Currently prices are support by 20 days MA but resisted by 50/100/200 days MA at $14.10 Since Nov 2009, DBS has been in consolidation mode with prices trend between $15.28 and $13.12. The current price is almost at the centre of the consolidation channel thus we would not say it is a good buy now. In fact, if we see the red trend line from the charts, we could ......
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By Dou

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