DBS Stock Code D05.SGX
Outlook
After reaching a high on 11 August 2021 at $31.40, price went into a decline. The decline managed to stay above the cloud, keeping the uptrend intact. Price is now close to the upper edge of the cloud, which is acting as support. We think price could be close to the end of a correction and the uptrend is likely to resume soon. Conversion and Base lines had a bullish price trend hint. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish price trend. MACD remains bullish with both its lines above the zero line, which is a hint of a bullish price trend. We are expecting price to stay supported above the cloud and a rally to bring price to the previous high at $31.40.
Strategy
$30.12 Buy
$31.40 Price Target
$29.30 Risk Management Stop
3 weeks Trade Duration
