The Market Technician

Raffles Medical (BSL) - Poised for Mark Up On the technicals, the stock has build up a base and broke above the base's resistance line, the bullish action provided technical evidence that the stock is expected to trade higher with near term 1st target price at S$1.19 and 2nd target at S$1.29. The healthcare service provider recently announced earnings with full year net profit increase and a surprise raise in dividend payout. With its new hospitals in opening in China later x(second half) this year and in 2H19. Though with new openings, we may see increased in expenses incurred in the coming quarters but future earnings looks promising. With its technical observations, we may have seen the low for the above stock.  Following is a research report from UOB KayHian research team. Research Report Link: https://research.uobkayhian.com/content_download.jsp?id=44060&h=25851845bd6a3cbf79e4341c1f6baa59

Alibaba (BABA:NYSE) After a short term rebound US$170 level. Stock price will likely to pull back towards US$182-180 level (50% of previous rally and 55 Days MA as support), with rally stalled and   Bearish   Shooting Star   pattern sighted.

DBS: Technical Rebound We are expecting DBS to rebound from here after steep sell off as we can see from the chart that DBS is resting at a resistance turned support zone, and trading below the Bollinger band 2x SD lower band, with a bullish hammer pattern. Expected rebound target at S$26.30-S$26.50. Disclaimer Applies.