I am studying the DBS chart as the company reported lower earnings for Q3 earlier before market started. As the market opened, the Top 30 reflected DBS being heavily traded in there as the news was out.
https://www.theedgesingapore.com/dbs-reports-25-lower-3q-earnings-802-mil-og-net-allowance-charge
Morning, it opened green and suddenly it gave away and started to sell down. I went back to check what the BBs were doing and I saw like a weak buying with the stock reaching a short term supply zone where the sellers are waiting to take profits. As of now, DBS is slow trending down but who knows it might trend up later? Personally, I don't think this is a bad news or report but I will avoid banking stocks now as it's at all time high.
Ronald K - Market Psychologist - A Stock Market Opportunist
