DBS Group Holdings Ltd (SGX:D05) Better Than Expected

DBS Group Holdings Ltd (SGX:D05) Better Than Expected

DBS Group Holdings Ltd (SGX:D05) Better Than Expected

  • DBS, OCBC and their smaller rival United Overseas Bank (UOB) reported better than expected first quarter net profits thanks to their wealth management businesses.
  • DBS Group Research analysts are pushing for investors to increase their cyclical exposure to the office and industrial sectors
  • DBS Deepens China Ties
  • DBS Group Research has downgraded Global Logistic Properties to “hold” from “buy”

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 12.60.

The projected upper bound is: 13.78.

The projected lower bound is: 12.85.

The projected closing price is: 13.32.

DBS GROUP HLD closed up 0.085 at 13.307. Volume was 100% below average (consolidating) and Bollinger Bands were 49% wider than normal.

Open         High         Low          Close        Volume
13.307      13.307      13.307      13.307      0

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       13.30             12.79               11.36
Volatility:                17                    23                   23
Volume:                  0                     58                    66

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

DBS GROUP HLD gapped up today (bullish) on light volume. Possibility of a Common Gap which usually coincides with a lack of interest in the security. Common Gaps are fairly irrelevent for forecasting purposes. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
DBS GROUP HLD is currently 17.1% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into DBSM.SG (bullish). Our trend forecasting oscillators are currently bullish on DBSM.SG and have had this outlook for the last 13 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 28.5101. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 59.32. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 30. This is not a topping or bottoming area. The last signal was a sell 10 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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