Just saw this weekly chart of DBS (D05)...
After a spectacular and amazing run up, DBS is clearly stalling out and poised to fall a good 10%, maybe more.
Candlestick patterns show a bearish inside candle, fallowed by another that gapped down.
point here is that if this is still remotely bullish, there should be better patterns and signs of strength somewhat.
MACD has stalled and is pretty much turning down.
the RPM and Volume Divergence all convergently signal downside to follow.
Notably, the recent spike broke out of a rising channel, and came back in... as with most pattern analysis, this type of breakout failure warrants a follow through out of the other side.
Bearish looking for DBS expected...
As DBS makes up a significant part of the STI, we can expect the STI to behave similarly too...
After a spectacular and amazing run up, DBS is clearly stalling out and poised to fall a good 10%, maybe more.
Candlestick patterns show a bearish inside candle, fallowed by another that gapped down.
point here is that if this is still remotely bullish, there should be better patterns and signs of strength somewhat.
MACD has stalled and is pretty much turning down.
the RPM and Volume Divergence all convergently signal downside to follow.
Notably, the recent spike broke out of a rising channel, and came back in... as with most pattern analysis, this type of breakout failure warrants a follow through out of the other side.
Bearish looking for DBS expected...
As DBS makes up a significant part of the STI, we can expect the STI to behave similarly too...