DBS facing bearish pressure, potential for further drop We caught the reversal nicely from our sell entry in our previous call, we remain bearish below this level and could see a further drop from here
DBS19 trade ideas
Small Pullback Before Taking OffThis is an update from my previous post on DBS:
Currently we have a risk free trade trade running on DBS SGX:D05 .
Today I see another opportunity to be bullish, however we have to wait until it retraces to the nearest level.
Big players are in the midst of profit taking from the previous bull run.
Technically: downtrend channel resistance had been breached, we are waiting for the small pullback and buy from that area.
This week my trade opinion :
Buy Limit at $20.50
Stop Loss at $20.20
Take Profit at $21.78
Risk Reward Ratio = 4.27R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee.
As always, move your SL when you are in the profit zone.
DBS facing bearish pressure Price is facing bearish pressure from our descending trend line, a test of our sell entry could see a reversal from here.
Great Singapore Sales on D05 (DBS), we wait for a better price.SGX:D05 is now in the midst of ranging within the downtrend channel and there is no sign of reversal sighted yet.
The overall sentiment is bullish bias and I am expecting the price to fill the Demand Zone at $20.00 or lowest is at $19.45
Thus, overall SGX:D05 is a good buy, but we are waiting for the maximum discount to long this stock.
My personal call:
Buy Order Limit at $19.50
Stop Loss at $18.80
Take Profit at $22.09
Optimal Profit at $23.50
Risk Reward ratio = 5.8R
Good Luck.
Disclaimer:
This call is for education purposes only, lot sizing is totally up to your risk appetite.
As usual, I would recommend shifting your Stop Loss to your Break Even level once your position is in the profit zone.
Always master your risks and your profit will come naturally.
DBS Short PositionDBS Q2 Profits and Dividends Cut. Short position taken
M: Downtrend
A: Resistance
E: Bearish outlook and candle stick pattern
E: SL 20.20 RR 2.74
Entry Price: 20.8
DBS ShortShort DBS:
Fundamental:
1. Dividend cut
2. ECL loss expected
3. NIM compressed
Technical:
1. Price break 50MA
2. MACD downtrending
3.Gap down on 30 Jul 2020.
Target $17
Potential Long positionLower time frame shows a price rejection with a bullish inside bar for lower prices before the day ends on 30 July. Price is also currently along with the ascending triangle with higher lows since April. It is now on the previous resistance turn support price and it is possible to wait for further confirmation on long signals when price crosses the retracement trendline. Alternatively, if individuals feel it is an opportunity and there are enough multiple consensuses to long, one can choose to buy at the current price of 19.77 and set their stop loss at 18.47, if a long position is a success, exit trade at $23.94 or as long as price falls below 10 EMA.
DBS facing bearish pressure Price is facing bearish pressure from our descending trend line, a test of our sell entry could see a reversal from here.
DBS - BREAKDOWN & GAP DOWN1) This news contributed to the sell-down
www.bloomberg.com
2) I said previously to trade in the direction of the breakout in prices
3) Do not long until a bottom pattern has been reached, which could be as low as $13.60
DBS breaks support. Expose 19 Zone.DBS breaks 20 level support
Gap down with heavy volume.
Retailer Chip increase.
Wait for reversal signal near 19 Support zone.
DBS keeps breaking down in small steps...Really painful to see a large (relative to Singapore) bank break down slowly like that...
Technically, it reeks of a bearish bias, but is not advancing with commitment. Instead is slowly breaking down the supports, from the trendline to the widening wedge, and yesterday, a critical level to close at a lower low (after a lower high weeks ago).
It is possible for a short bounce to 20.80 now, but downside bias remains, probably to continue after a bit of consolidation, if at all.
As DBS is a main component of the Strats Times Index, STI, there is correlation in the apparent weakness.
DBS - Breaks trendlineBreaks trend line and stay below Ribbon indicator.
Banker's chip reduced.
Banker's Moving Average heading down about to cross below Retail Moving Average (Deadly cross)
DBS facing bearish pressure Price broke a key support level previously and a test of this level could present an opportunity to go short before a further drop. What are your thoughts on this stock?
DBS - LongCurrently on a bearish trend, coming close to the resistance line of around 20.41 If it break out and move upwards, we should see a upside of around 21.70 around 10 Sep 2020.
30 Oct would reach around 23.30 where we will test the next resistance.
factors that may impact its performance.
Pros
GSS
How fast the programs implemented by Government / STB to stimulate spending
Additional Stimulus if provided by Government to jump start the economy through programs / grants
Cons
Global economy trade impacted due COVID19
US & China rising tensions
increase in defaults on the corporate side.
DBS - HERE WE GO AGAIN1) Similar pattern to the downtrend channel that happened from mid-June to end-June
2) Buy when support line of about $20.50 is reached, or when prices break out of the downtrend channel.
3) Sell if Major Support line of $20.00 is breached to the downside
Key levels to watch on DBSHere's my view on $DBS(D05.SI), price is currently testing a key support level in line with our ascending trend line where we could see a bounce from here, but I do caution the limited upside in prices here, keeping in mind the bearish trend line.
DBS testing resistance, potential reversal Price is testing resistance where we could see a drop to our take profit target
DBS (DO5) with possible upward movementDBS is supported with a long term trend line.
Triangle forming from recent lower highs which may result in a breakout if the stock moves above recent highs.
Disclaimer: Not an advice to sell or buy!!
Bearish inclinations on DBSAs per chart, DBS has little upside momentum, candlestick pattern FA our some bearishness as does MACD support for lower prices.
Breaking down and closing below 21.50 would be bearish.
Watch for it!
Breakout spotted at DBS Group HoldingsUsing Chart Pattern analysis technique, DBS Group Holding just achieve a turning point 3 days ago.
From Exponential Moving Average (15 , 30), it is in uptrend.
While MACD ( 12 , 26), just have an upper cross.
One of the Wall Street rule is that a share price will bounce back to where it was.
The share price will probably reach 24.5 SGD in next few days.
