Technical Analysis for the week!

ItryInvestin
2023-12-27

$DBS GROUP HOLDINGS LTD(D05.SI)$ 

I have repeatedly mentioned in previous posts that my sentiment in DBS remains bullish unless it falls below $30.50 (which it didn't), some even commented on my post that I was in denial. But as my trading rule - NEVER ever listen to anyone on this discussion page, and trust my own trading plan. So glad to see DBS finally taking off.

DBS is a blue chip stock in SG. Blue chip stocks are stocks of dependable, profitable companies that have stood the test of time. Investing in high-quality blue chip companies can be a way to strengthen your stock portfolio. According to DBS Group's latest financial reports the company's total assets are $545.14 B And has been growing ever since 2008! How strong is that, and has been named one of the best bank in the world.

Diving into the TA, strong support level showed at $31 the past weeks. Double bottom (bullish pattern) seen. Noted nice entries and have posted about it in previous entries (but always DYODD first). Broke my downtrend line recently. And likely to see a rally from here till Chinese New Year, back testing on past years , DBS had mostly rallied in Jan before retracing again. Target price will be set at $33-34 for now.

Happy New Years in Advance & thank you all for the follows and likes. May we all 🔥 harder and stronger in 2024! 🎄🎄

# 💰 Stocks to watch today?(20 Dec)

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Comment（6）

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  • Ngohiang
    ·2023-12-29
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    Another guy was saying this was window dressing....😅😂
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    • NgohiangReplying toItryInvestin: 
      Same, not taking profit because i bought some at lower 32s. Have some cash on the side and will buy if it goes below 31
      01-04
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    • ItryInvestin: 
      Well he isnt wrong if he is talking about the current price level:) It is well within my take profit level. So I have TP-ed and will re-enter when it dips again :)
      2023-12-29
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  • VivianChua
    ·01-03
    Nice 💚 💚 💚
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  • YueShan
    ·2023-12-28
    Good⭐️⭐️⭐️
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    • ItryInvestin: 
      Hope you manage to catch some of the rally! 🥰
      2023-12-28
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