As at 8 Aug 2019, DBS stock has broken below the 200-days-moving-average. On the technical front, breaking below a 200-days-moving-average may signal the commencement of a long-term downtrend for a stock.
Earlier this year, DBS stock has broken below the 200-days-moving-average in March and May 2019 but managed to recover the stock’s upward trajectory. With DBS now testing the 200-days-moving-average for the third time, will investors see DBS stock heading south for a longer-term?
A case in point, DBS stock broke below the 200-days-moving-average in Jul 2018 and it was only in March this year that DBS stock price recovered to where it was before the stock price breaking down.
For investors interested and bullish of DBS stock, the aforementioned development should be of interest to watch.
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