DBS is currently forming a Symmetrical Triangle and currently just trading below the 200D MA. DBS was unable to break the previous resistance of $15.28 on two occasions. Breaking down this symmetrical triangle will send DBS share price to $12.30. Downside risk is much higher than upside potential as this is not the stock to go long at the moment.
UOB has formed a Head and Shoulders pattern which is a trend reversal pattern, and currently trading just above the neckline of $18.10. UOB share price is trading below the 20D, 50D and 200D MA as well. Breaking below this neckline will confirm the breakout and send UOB share price to $15.30. The chart looks bearish and downside risk is higher than upside potential. It is better to be safe instead of going long.
OCBC Bank has formed multiple tops with resistance at about $9.13 and currently trading in a Rising Wedge. Rising Wedge is a reversal pattern in an uptrend. Breaking down this Rising Wedge will send OCBC share price to $7.40. OCBC stock price is currently trading just above the 200D MA support. This 200D MA support coincides with the Rising Wedge Support. The chart looks bearish at the moment.
