This coming week Sunday on the 17th of April 2016, there will be a meeting between the OPEC and non-OPEC oil producers discussion on the oil production freeze, therefore, should it be confirmed, we can see further share price increase in the stock market. Follow by the Fed meeting on the 26-27th April and DBS releasing their result in May and payout their dividend in June period, which I am expecting to receive this $1200 passive income from my investment in DBS shares.
Nonetheless, DBS just break out from its 1st resistance line $$15.51 with 100 days moving average supporting the share price. Next resistance line to watch out for will be $16.02 despite the first time it has tested and there’s a pull back on it.
From the view of the volume indicators (Accumulation/Distribution and OBV) volume for DBS shares have been gradually building up, there’s a possibility it might break the 2nd resistance. However, we should also take into consideration for DBS ex-dividend in May period with a dip in share price.