Just search through the internet daily and you would find plenty of trade calls on buy and sell stocks, be it an article, video or podcasts. So, I can understand the confusion for new traders/investors. Who do you really listen to ?
I too, suffered this "blind follow blind leaders" syndrome when I first started, made lots of illogical and silly mistakes that could be avoided but nevertheless it happened. So, like they said, one has to pay tuition money to learn from the market, haha.
My 2cents prediction for DBS bank is it is likely to hit around 30-32 dollars before we see a downturn. That means those who picked up at 16 in March 2020 would benefits the most.
From the chart, we can see the historic patterns of DBS Bank. It is going through a stage of consolidation between 8 to 21 dollars since 1998. This is a long term pattern that we can see and notice it has recently (Nov 2020) breaks out from its long term resistance level at 21.48. So long as the price stays above this level , I am inclined to think the probability of it hitting beyond 30 dollars is higher.
Thus, I hope this gives you more clarity if you should buy or sell this stock. It really depends what kind of time frame you are looking at. Those that are advocating you to sell may not be entirely wrong if they hold a shorter time horizon and those that urged you to go long may be in for the long haul. The question to ask is, which time frame are you looking at ?
I too, suffered this "blind follow blind leaders" syndrome when I first started, made lots of illogical and silly mistakes that could be avoided but nevertheless it happened. So, like they said, one has to pay tuition money to learn from the market, haha.
My 2cents prediction for DBS bank is it is likely to hit around 30-32 dollars before we see a downturn. That means those who picked up at 16 in March 2020 would benefits the most.
From the chart, we can see the historic patterns of DBS Bank. It is going through a stage of consolidation between 8 to 21 dollars since 1998. This is a long term pattern that we can see and notice it has recently (Nov 2020) breaks out from its long term resistance level at 21.48. So long as the price stays above this level , I am inclined to think the probability of it hitting beyond 30 dollars is higher.
Thus, I hope this gives you more clarity if you should buy or sell this stock. It really depends what kind of time frame you are looking at. Those that are advocating you to sell may not be entirely wrong if they hold a shorter time horizon and those that urged you to go long may be in for the long haul. The question to ask is, which time frame are you looking at ?
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Praise the Lord
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Congrats to those who followed on this posting.
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short term traders might want to take some profits at this stage !
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Praise God , nine months later, the price action has hit our target !
Profit taking may be in over the next few weeks and price is likely to stay sideways for a while before we see more upward move
Profit taking may be in over the next few weeks and price is likely to stay sideways for a while before we see more upward move
