We can observe so many Gap down from $30 to $24 region.With each Gap down, it further weaken the downward pressure.
Currently, it is trading at $23.10, NAV of $17.78, Price per book value is 1.3x which is still trading at premium level as ideally, we would prefer price to trade slightly above the NAV value of $17.78 level.
Dividend of $1.20 which might be the reason why price has started to rise from $25 region to a high of $30. It seems like it is running out of momentum and is on the downwards spiral movement.
From TA wise, is it a good time to go Long? The answer is NO.
If it can't hold up well above $23, it may likely go down to test $22.40 then $21 with extension to $20.23 level.
Not a call to buy or sell.
Please do your own due diligence.
Trade/invest base on your own decision.
DBS Group Holdings Ltd, an investment holding company, provides commercial banking and financial services in Singapore, Hong Kong, rest of Greater China, South and Southeast Asia, and internationally. It operates through Consumer Banking/Wealth Management, Institutional Banking, Treasury Markets, and Others segments. The Consumer Banking/Wealth Management segment offers banking and related financial services, including current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment, and insurance products for individual customers. The Institutional Banking segment provides financial services and products for bank and non-bank financial institutions, government-linked companies, large corporates, and small and medium sized businesses. Its products and services comprise short-term working capital financing and specialized lending; cash management, trade finance, and securities and fiduciary services; treasury and markets products; and corporate finance and advisory banking, as well as capital markets solutions. The Treasury Markets segment is involved in structuring, market-making, and trading in a range of treasury products. The Others segment offers stock broking and Islamic banking services. The company operates approximately 280 branches across 17 markets. DBS Group Holdings Ltd was founded in 1968 and is headquartered in Singapore.
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