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DBS Group ST: the downside prevails as long as 21.2 is resistance
Trading Central | 2017-08-18 00:24:00

Our preference: the downside prevails as long as 21.2 is resistance.

Our pivot point stands at 21.2.

Our preference: the downside prevails as long as 21.2 is resistance.

Alternative scenario: the upside breakout of 21.2 would call for 22 and 22.4.

Comment: the RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 21.41 and 21.01).

Supports and resistances:
22.4 **
22 *
21.2 **
20.9
20.53 (SGD-last)
19.4
18.9 **
18.5 *
18 **

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