Thursday, November 29, 2012

DBS (technical)

DBS: the gap up on 27 Nov has sustained, and pushed share price above the key 50 day and 200 day moving averages. The break of the downward trend channel is a positive, and could signal the beginning of a new longer term uptrend. The key indicators are above neutral and rising steadily, suggesting that near term momentum has legs to continue. See support at $14.10 (50day MA), resistance at $14.80 (close to the mid Sep 2012 peak).

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