DBS Technical Analysis (18 May 10)

Support/Resistance:
As mentioned last two weeks ago, double top may be forming and there is a chance that the price will drop to the uptrend support line at $14.00. The price is now getting closer to $14.00. If it breaks $14.00, there might be a chance to test the $12.50 major support. Major resistance is at $15.80.

Indicators:
Looking at the MACD, RSI and Stochastic, these three indicators have going down. There might be a lack of buying momentum, so be careful if you are buying now.

My Target Price:
Target buy price will be $12.50.

Please note that I am using TA to position myself for long term investing and not to predict the direction of the market.