DBS Group Holdings limited: Resistance Level

Published On: 1 April 2024, 10:00 AM | Alex Lee, Assistant Manager, Dealing

Key Entry Price Pivot(s):
  • $36.43
Recommended Trade:
  • Short at $36.13
  • Stop Loss at $36.63
  • Take Profit 1: $34
Alternative Case:
  • Long at $36.50
  • Stop Loss at $35.50
  • Take Profit at $37.50
  • DBS is testing the resistance of $36.40 and is now showing signs of rejection.
  • If DBS is unable to have a strong close above $36.40, recommended trade suggests shorting on the rejection of the resistance
  • Alternative case to long is presented in the event that there is no false breakout of resistance and price is able to close above the resistance. First target profit is $37.50 at the high while a trailing stop can be implemented for the remaining positions.