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DBS Group ST: above its upper Bollinger band
Trading Central | 2017-10-25 22:44:00

Our preference: the upside prevails as long as 21.4 is support.

21.4 is our pivot point.

Our preference: the upside prevails as long as 21.4 is support.

Alternative scenario: below 21.4, expect 20.9 and 20.6.

Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 21.43 and 20.87). Finally, DBS Group has crossed above its upper daily Bollinger band (22.16). DBS Group is currently trading near its 52 week high reached at 22.25 on 27/07/17.

Supports and resistances:
23.7 **
23.4 *
23.1 **
22.8
22.2 (SGD-last)
21.6
21.4 **
20.9 *
20.6 **

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