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My DBS TA view

NAV: 13.2149
PE: 10.658
Total issued paid up shares: 2,442,617,000
Mkt Price: 16.64
Distribution Yield: 3.361% 

DBS showing a possible Symmetrical Triangle(Continuation) pattern. The other two banks(OCBC & UOB) currently showing similar resemblance. This contracting wedge, like all triangles, is wide in the beginning and narrows over time to its apex. The price action should be contained within the triangle before a valid breakout occurs The breakout should be convincing with an expansion in volume.

Regardless of the nature of the pattern, the direction of the next major move can only be determined after a valid breakout. 100dma support at 16.33. To each his own.

DBS was originally incorporated as a Bank, in 1968, to provide financial assistance to manufacturing and other industries in Singapore for the purpose of Singapore’s economic development and industrialisation. In 1993, the Company launched its 503.1 million non-redeemable preference share issue, making it the first in Singapore to introduce to the investing public a partly paid preference share with conversion rights. In 1997, it introduced internet banking, also a first in Singapore. The restriction on foreign ownership was removed and the merger of local and foreign shares was effected on 3 September 1999. Pursuant to a scheme of arrangement, The Development Bank of Singapore Ltd was restructured to become a wholly-owned subsidiary of DBS Group Hldgs Ltd on 18 September 1999. The principal activities of the DBS Group consists of investment holding, banking and financing, the provision of mortgage financing, lease and hire purchase financing, corporate advisory services, nominee and trustee services, funds management services, stockbroking, primary dealership in Singapore Government securities, merchant banking, factoring, credit card and venture capital operations, and other financial services.

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