DBS (technical)

DBS: chart shares similarities with that of OCBC. The counter remains in a longer term uptrend, and is hovering near its 52 wk high. Key resistance level is at the $15 mark, and a break above that would position the counter as a bullish breakout candidate. Nevertheless, DBS has been trading in a wave-like pattern over the past year. With the Stochastics and MACD indicators sliding below neutral level and RSI still declining, the odds favor a period of consolidation in the near term. First support is at $14.60 , followed by $14.40 (50day MA).