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DBS Expected to test First Support

August 01, 2019

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DBS (D05)
We saw a change of character during yesterday's trading session. We are expecting further downside on DBS with first support at S$25.80-S$26.00 zone.

DBS

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First REIT seeing strength

First REIT (AW9U)
Above chart was posted by one of our Wyckoff Telegram community members, I added some comments to illustrate the Wyckoff method.

In summary, we are seeing positive demand and supply factors, suggesting that First REIT is expected to retest its accumulation resistance and further demand will see it breaking out confirms accumulation breakout.

We saw climatic selling and higher high and higher lows within possible accumuation phase, and one of the key observations of demand is breaking of downward trendline (stride).

However, we hope to see the stock outperforming the market (positive RS) and more funds flowing into the counter (increasing FFI) to further establish that current phase is accumulation.

Join us in our next class to learn the Wyckoff techniques in analysis difference phases of a stock price cycle.

DBS Expecting Mark Down

DBS Expecting Mark Down
Today, DBS broken below our signal line (Red). We are expecting further mark down as both our Relative Strength indicator are displaying bearish signs.

Our indicators, RS Indicator is below zero, this denotes that stock is trading weaker than the market.

Fund Flow Index (FFI) indicatesthat in recent trading, demand is much weaker than supply, supporting the bearish claim.

Both RS and FFI indicators are provided to our course participants (no subscriptions required).

Also, with the above proprietary market demand and supply indicators interpreting bearish signs, it helps support a stochastic trader trading the bearish crossover signal.

DBS (Hourly Chart)
Our Wyckoff class participants will also learn to develop skills of a trader by reading market demand and supply using the Wyckoff Method.

Learning to identify different phases of a price cycle and recognise signs of demand or supply such Buying Climax (BC), Secondary Test (ST), and Signs of Weakness (SOW).

In conjunct…

ThaiBev Expecting Further Strength

ThaiBev (Y92)

Price broke out of its re-accumulation zone that started since early Sept, it continued to mark up with Bullish character (Rally with increased volume and react with low volume).

Supporting the market are Relative strength showing outperformance against the market and technical indicator MACD displaying positive momentum.

1st target level will be at S$0.95 resistance.

Stop price at 10D SMA (10 days simple moving average)

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