Technical Pulse: DBS Group Holdings Ltd November 26, 2019 811


DBS Group (SGX: D05)  technicals suggest that the stock may head lower despite having upbeat recovery in 4th October 2019 :  

  1. Strong bearish candle closes below the gap down zone and the bearish candle actually transformed into a dark cloud cover formation further strengthens the bearish sentiment cause.
  2. Prices have been closing below the middle Bollinger band for 3 consecutive periods and not making any breakthrough above the gap.
  3. MACD readings suggest that the bears have already stage its come back when the fast-slow moving average line crosses and histogram have trended below the 0 line.


*Timeline of the trade should be between 1-3 weeks from the date issued.

* Should the major support not broken at 28.77 for 3-4 consecutive periods, the whole short call will be invalidated.



Bollinger Band

Red dotted line = Upper band

Blue dotted line = Middle Band

Green dotted line = Lower Band

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