DBS Bank (D05) - Buying Strong Share in Weak Market

I single out DBS not because the Bank has a beautiful chart. Conversely, the chart is far away from it. As far as, the Main trend line and the OBV’s trend line are not breached, this one can be exceptional. Why? Today, downturn across the Asia was led by the Japanese again; this is an opportunity at its best. I see strong support level at $16.20. TP can be met at $17.20, the peak at early Jan 2006. DBS today, down 30 cents provided opportunity for the so called “accumulating strong share in weak market”. Also, UBS Investment is bullish on DBS as benefactor from the anticipated reflating economy. Furthermore, Macquarie is seeing the future in anticipation of the 17th Feb goodies announcement and the unveiling of the Government’s Budget then. They also mentioned capital restricting and the theme that would be expected to shift to property sector once again. All these activities speak well for the Banks