DBS Price Action: Support, Resistance & Trading Strategies

Technical Analysis of DBS (SGX: $DBS Group Holdings(D05.SI)$ )

Trend Overview

DBS remains in a long-term uptrend, confirmed by a pattern of higher highs and higher lows.
The stock has broken above a long-term trendline resistance, which has now turned into a support level around $39.70.
Despite recent price declines, the trendline and previous resistance now serve as key support zones that traders will monitor for a potential rebound.

Key Support & Resistance Levels

Support Zone: ~$39.70 (trendline + horizontal resistance turned support).
Resistance Zone: Around $47-$48, where the stock recently faced selling pressure.

Momentum & RSI Analysis on current price action

The Relative Strength Index (RSI) is not yet in the oversold zone, indicating that there may still be room for further downside before a potential bounce.
If RSI moves into oversold territory (<30), it may signal that selling is overextended, increasing the likelihood of a rebound.

Potential Scenarios

If DBS Holds Above $39.70:

This confirms strong support, and the uptrend remains intact. Long DLC e.g. $DBS 5xLongSG251023(QARW.SI)$ profits from a price gain.
If DBS Breaks Below $39.70:

It could signal a deeper pullback, with the next potential support level around $35-$36. Short DLC e.g $DBS 5xShortSG261217(SZWW.SI)$ profits from a price drop.

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