DBS posted some good earnings today. Many would thought the stock will have a big gap up but instead, it only gap up a little and started to sell down at the supply zone. Many used this news to lock in profits instead of buying the stock. From the daily chart, it clearly touched the supply area while in the minute chart, the stock gap up a little more above the previous high.
https://www.theedgesingapore.com/capital/results/dbs-posts-record-1h-earnings-after-20-rise-2q-earnings-16-bil
DBS had been trending quite strong for the past 2-3 weeks and I believe it's time to take profits for this counter first. I remembered shorting this counter but I have to lock in profits fast or my profits would have eroded by today. So when is the right time for trading this counter? I think very soon since the signal for bearishness is coming soon.
Ronald K - Market Psychologist - A Stock Market Opportunist
