Badly Beaten DBS 24 September 2015


From the chart, we can see that DBS is still bearish for long term. 20, 50, 200dma showing downtrend.

This is also accompanied by high daily trade volume, serious sellers.

23 Sep Wednesday breakaway gap, supported by high volume -> Bearish enough.

It is nicely resisted by the 50% and around 61.8% fibo, making it a good shorting entry from there on.

Slight support around $16.70 region, but there is also a possibility that it might head lower to $16.22 region.

RSI: Going into oversold region, might see more actions coming

MACD: Not looking good.

I am still bearish on this until I see a good rebound for longing.


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