DBS Sell: Target $38.60

This is not exactly a short idea for 2 reasons:
1. It is not that easy to short a Singapore stock, and
2. Singapore stocks don't really follow Elliott Waves principles because the stock market don't herd.

So this is really saying:
1. Now is not the time to buy. Wait for better prices.
2. Lighten up if you are not an investor but more of a speculator/trader.

Take note of the stop loss price. A break to new high means an extension of 5th wave although this is highly unlikely given that wave 3 (of 5) has already extended.