Sunday 25 January 2009

DBS Bearish Signal


1) MACD crossed down.
2) RSI breaking down uptrend line.
Looking at around 6.00.

1 comment:

Guanyu said...

A “Pennant (Bearish)” chart pattern formed on DBS. This bearish signal indicates that the price may fall from the close of 8.38 to the range of 5.80 - 6.30. The pattern formed over 8 days which is roughly the period of time in which the target price range may be achieved.

A Pennant (Bearish) is considered a bearish signal, indicating that the current downtrend may continue. After a steep drop in price, the pennant reflects a temporary pause in the downtrend, consisting of two converging trendlines that form a narrow, tapering flag shape.