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DBS Group ST: the RSI is overbought
Trading Central | 2017-10-27 01:27:00

The MACD is positive and above its signal line.

Our pivot point is at 21.9.

Our preference: the upside prevails as long as 21.9 is support.

Alternative scenario: the downside breakout of 21.9 would call for 21.4 and 21.1.

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 21.58 and 20.94). DBS Group is currently trading near its 52 week high reached at 22.45 on 27/10/17.

Supports and resistances:
24 **
23.7 *
23.3 **
23.1
22.42 (SGD-last)
22.1
21.9 **
21.4 *
21.1 **

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