Current DBS is supported with a weekly strong bullish trend that is heading up to test the key support/resistance level. If market actually breaks out on this level, stock price will go back to test $22.6 - $23 level easily.
Overall, It is expected to see price action to break the long-term trend with current economical issue.
Not to include fundamentals, if...
Market is bringing back a classical economical theory; USD the gold standard.
Under current market uncertainties, what currency will u be long for?
Current long entry with bullish channel, leaves us with a 1:4.8 risk to reward ratio.
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DBS with strong fundamental and liquidity seems to be ignoring the usual local "must-buy" recommendation as selling pressure remains high.
This Stock has a high correlation with STI, as both heads towards a level where market seems to be able to break.
A "short" position seems to hold a higher winning probability than a "long" one
Also, i'm writing at ...
Reasons for a High Probability Long Move:
Market has failed to make a distinguishable bearish movement on Friday
NonFarm Payroll was 3 x below expected
Market has immediately rejected key level with a strong engulfing pattern (4hour), while forming a hammer on the daily.
