DBS Expecting Mark Up

DBS (D05)

DBS broke out above our Market Swing Trend Line (10SMA), with Relative Strength stronger than market performance, we are expecting further Mark Up for DBS.

1st target price at S$25.60, a confluence of previous resistance and its downtrend trendline.

Funds may be buying Trump's tweet that a trade deal is sooner than expected.

Trump says trade deal with China could happen sooner than people think 
(Reuters Link)

A break below S$24.59 will fasify the analysis.

Disclaimer applies.

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