Singapore Banks stock rally after a commitment by European banks and other private bondholders to accept a voluntary 50% writedown on Greek government debt, a boost in the lending power of the euro-zone bailout fund and a 106 billion euro ($148 billion) recapitalization of European banks. All 3 Singapore Banks (DBS, OCBC, UOB) have broken out from the down trend channel and also showing a potential “Higher High, Higher Low” uptrend chart pattern. This represents a good opportunity to long the stock till the 200D MA resistance. However, the current rally is not a good entry time for the value investing base on current valuation base on Price to Book (P/B), PE comparison and PEG ratio.