Dear readers, since DBS stock touched a high of $37.20 in Feb 22, the stock closed last Friday (10 Jun 2022) at $30.13, giving up some 20% gains from the year intra-high.
At $30.13, DBS stock is now trading at around -8% loss for the year-to-date (DBS stock closed $32.66 on the last trading day of Year 2021).
While it can be said that DBS stock performance can be traced to the overall volatile stock market, investors must note that Singapore stocks markets, as measured by the Straits Times Index still manage to gain by 1.9% for year 2022 to-date (as at 10 Jun 22). And if we compare the aforementioned year-to-date gain for the STI with DBS stock, we can definitely see why DBS stock performance year-to-date this year is not acceptable.
DBS stock crossed below its 200-Days-Moving-Average this year in March 2022 but managed to rebound above the average after that. A crossing down of a long-term moving average is bearish for stock.
Noteworthy is the crossing below of DBS stock again, of its 200-Days-Moving-Average in May 2022. As at last Friday (10 Jun 22), DBS stock proceeded to head south, far below its 200-Days-Moving-Average.
Looking at the technical chart, the next support for DBS stock is at $29.20 and this means a potential southing of DBS stock by another 3% in the near-term.
Please note the above is just my humble comments on DBS stock, investors would have to carry out their own research, due diligence when it comes to their own investing.
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