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DBS Group ST: the upside prevails as long as 23.4 is support
Trading Central | 2017-11-13 02:48:00

Alternative scenario: the downside breakout of 23.4 would call for 22.8 and 22.5.

Our pivot point is at 23.4.

Our preference: the upside prevails as long as 23.4 is support.

Alternative scenario: below 23.4, expect 22.8 and 22.5.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (respectively at 22.7 and 21.56). DBS Group is currently trading near its 52 week high reached at 24.3 on 09/11/17.

Supports and resistances:
25.7 **
25.3 *
25 **
24.7
23.86 (SGD-last)
23.6
23.4 **
22.8 *
22.5 **

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