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Tuesday, January 26, 2016

DBS

DBS - 26th January 2016

From the chart we can notice that DBS attempted to do a technical rebound on 25th January 2016 with the nice Gap up to $14.10 when started trading and closed higher at $14.15. The volume was also quite high which is rather positive. But it has soon given up this rebound as witness on today closing price of $13.76 which is slightly lower then the previous low of $13.77 on 21st Jan 2016.
This is generally rather bearish.

Both MACD & RSI are still pointing downwards which may provide further indication that the share price may continue to head lower.
Short term wise it may continue to trend lower towards $13.00.
Breaking down of $13.00 may see it goes down to re-visit $12.00.


(trade base on your own decision)


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