DBS: Triple Tops or Bullish Triangle Breakout?SGX:D05 is in the crossroad, either the Triple Tops will prevail or it will be a bullish breakout.
Based on the current formation, and if we combined with Supply and Demand; it is wiser to wait for Long Setup rather than Shorting it.
As at today there is no LL yet and overall still Buyer in control.
Here is my personal call:
Buy Stop at $21.65
Stop Loss at $21.30
Take Profit at $23.00
Risk Reward Ratio = 3.97R
Potentially, you can buy yourself an iPhone 12 Pro Max 512Gb by end of the year, if you place 1 lot on DBS. Good Luck!
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot-sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee.
As always, move your SL when you are in the profit zone.
Singapore
STI TESTS 2516 TWICEThe STI made an intraday high of 2569 on the 13 oct and has since faced selling pressure throughout the week to test 2516.
A break of 2516 will quickly move to 2509 and a close below 2509 will resume downtrend in all timeframes.
A hold above 2516 will test 2569 and may start an uptrend on the daily charts.
STI TESTING SUPPORT AT 2516The STI has paused its downtrend in the ST on 121020 at 2542.
The buy signal on the 4hr charts at 2510 remains valid only if 2516 holds.
A break below 2516 will test 2485 and a close below 2485 will resume downtrend on all time frames to test the lows.
A bounce from 2516 and hold above the SSSA daily charts above 2524 will relieve LT downtrend pressures and start a ST uptrend.
STI BUY SIGNAL 091020 TARGETS 2547The STI has generated a buy signal at 2520 on 091020.
Immediate target is 2547.
A close above 2547 and hold will generate a ST/MT uptrend towards 2717
Failure to break above 2547 will retest 2510 and resume its MT/LT downtrend.
The STI is in a persistent MT/LT downtrend till otherwise indicated.
STI downtrend intact. Tries to stay above 2500. 031020.The STI has tried multiple times to hold the 2500 level in the last trading week.
A break and hold above 2510 will relieve the selling pressure.
A range within the downtrend has develop between 2450 and 2510 in the ST
A test of 2450 is still imminent.
STI Wilmar F34 seeks $4.54 to resume uptrendWilmar resumed its uptrend LT in July 2019.
Multiple buy signals MT and ST were issued on 270720 and 250920 @$4.41-$4.46
PIVOT : $4.54
Buy at the break and hold above $4.54
Target ATH of $7.29
Stop Loss $4.36
A break of $4.36 will negate the ST buy signal and test $4.04
STI downtrend struggles to break above 2500The STI is into its downtrend for 15th weeks now since the 24th of July 2020.
2500 level needs to be reclaimed and a close above 2520 will negate the correction.
The downside target of 2200 in the MT/LT remains a viable target if a sustained recovery above 2520 and 2551 fails to materialize.
SPX weakness intensifies ST. Price into the Daily Cloud.The short term weakness on the SPX persists since the short signal was triggered in the short term on the 4th of Sep 2020. The uptrend starting on the 25th of May 2020 the daily charts has taken a pause. Price now will test the downside on the SSSB (RED LINE) on the cloud.
A break and HOLD below the SSSB cloud will start a new downtrend in the MT. The downside target remains at 2973..
SPX correction intensifies in the short termA close at 3329 in the SPX sits exactly on the SSSA line of the day ichimoku cloud.
A test of the base of the cloud is imminent. The baseline forms support for now. The Teken level on the weekly charts is at 3350, this has been violated giving way to more weakness.
Bottomline: A resumption in the uptrend must see a bounce from Friday's close at 3329 to 3375 for the MT/LT uptrend to resume. A break and hold below the SSSB line on the Day charts may signal a corrective move to 2973, The Supertrend line on the weekly.
Opportunity to LONG DBSI spot a potential entry to LONG SGX:D05 in the coming days with a good RR.
Almost a month DBS is ranging from $21 to low $20ish, the consolidation is getting tighter and compression needs to be released.
To cut the story short, here is my personal call:
Buy Limit at $20.00
Stop Loss at $19.50
Take Profit at $21.60
Risk Reward Ratio = 3.12R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot-sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee.
As always, move your SL when you are in the profit zone.
STI OUTLOOK 140920. weakness persistsThe STI is struggling to hold on to 2500. All indicators are on a downtrend.
To negate short term weakness, the STI must close back above 2540 - 2586 and hold.
The Medium and Long term prospects are weak and in a persistent downtrend.
2200 is the next target is weakness persists in the MT.