Results for DBS is coming out this Monday and by looking at the chart,
it looked like it might be good with dividends coming. I am purely relying on the chart to make the forecast and not by any news or fundamentals. I studied the market today and the stock was strong for almost 2 hours before HSI got sold down and dragged the STI down. STI was strong even thought the overall market turned bearish while DBS was holding very strong too. This suggest some strength and some supporters while because market had to turn down, so do all banks follow.
In the 5 minute chart, the selling was overdone and there was a small cob which could suggest something positive to come. Also there was an actual market done volume of 305 lots as compared to the usual pre market volume which suggest some BBs were buying. Traded 5 lots with my mirror group at 4.18pm when the Dow Jones futures was right at the bottom and looking forward to Monday. The Dow Jones then rebounded heavily since with +318 points up!
Ronald K -
Market Psychologist -
A Stock Market Opportunist
