DBS & UOB - My DCA plan remains intact!
DBS remains on track!
- Still in a tapering controlled sell channel
- Continued testing of lower end of the channel
- 30.50 indeed is one key level as so far, every poke below has bounced back to stay above or start above
- Will continue my tactical Dollar cost averaging between 30.50 and 29.41
- Will see how the basing formation happen too
- Near term resistance is also at 32.12 (unlikely to break above for some time)
UOB remains on track!!
- Has been building on an area of balance (27.74 to 28.47)
- As in all range plays, it will either go into upper or lower range
- So far, it has not broken through 27.74 since mid May
- 27.74 has provided a good support with the possible Inverse Head and Shoulder formation
- A range down would go 27 which basically further reinforces the basing
- So my DCA plan will continue as per planned between 27.74 and 27.01
good luck, all!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
For DBS, it's interesting to note the tapering controlled sell channel and the testing of the lower end. The key level at 30.50 seems to be holding strong, providing support for the stock. Your tactical Dollar cost averaging strategy between 30.50 and 29.41 sounds like a smart move. Let's see how the basing formation develops and if the resistance at 32.12 can be broken in the future.
Turning to UOB, the building of an area of balance between 27.74 and 28.47 is worth keeping an eye on. The fact that it hasn't broken through 27.74 since mid-May is a positive sign. The possible Inverse Head and Shoulder formation adds to the potential support at 27.74. It'll be interesting to see if the stock stays within this range or moves lower to reinforce the basing. Your planned Dollar cost averaging strategy between 27.74 and 27.01 is a wise approach.