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DBS Group ST: the RSI is overbought
Trading Central | 2017-11-03 00:53:00

Alternative scenario: the downside breakout of 22.4 would call for 21.9 and 21.6.

22.4 is our pivot point.

Our preference: the upside prevails as long as 22.4 is support.

Alternative scenario: the downside breakout of 22.4 would call for 21.9 and 21.6.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 21.94 and 21.13). DBS Group is currently trading near its 52 week high reached at 23.14 on 02/11/17.

Supports and resistances:
24.5 **
24.3 *
24 **
23.7
23 (SGD-last)
22.5
22.4 **
21.9 *
21.6 **

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