Executive Summary

As capital continues flowing back into Singapore’s blue-chip space, attention is shifting toward market leaders that are showing both resilience and clean technical strength and DBS is shaping up as one of the clearest trend-continuation setups on the board. The stock remains in a steady uptrend, supported by multiple bullish 1GT signals over the past few months, and price is now pressing back toward the key $60.00 trigger level.

In this article, I break down DBS using the One Good Trend (1GT) strategy to explain what the chart is really saying right now, which levels matter most for the next leg higher, and how traders can use Daily Leverage Certificates (DLCs) to participate in the move with flexibility and leverage. As long as the $57.00 support zone continues to hold, this uptrend stays firmly intact  and a clean reclaim above $60.00 could open the door toward the next upside zone at $63.00.

1. DBS Group (D05.SI)

DBS Group Holdings Ltd (D05.SI) is Singapore’s largest bank, with a strong footprint across consumer banking, wealth management, and institutional banking. As a core Singapore Exchange blue-chip, it’s also a key proxy for Singapore’s credit cycle, rates backdrop, and regional Asia growth.

This stock has stayed firmly on traders’ radar as it continues to build a clean, higher-highs uptrend from the mid-2025 base.

 After holding the $55.00–$57.00 zone and resuming its climb, price has now pushed toward the $60.00 breakout trigger, with the trend structure still intact and momentum attempting to re-accelerate into the next leg higher.

The longer-term trend remains constructive, with the 100-day moving average (red) sloping upward and staying comfortably above the 200-day moving average (blue). 

The 20-day moving average (green) is also rising and tracking price closely, showing both short-term and long term strength remains in play even after minor pullbacks.

Notably, DBS has multiple bullish 1GT signals over the past few months, and they’ve continued to play out without a meaningful trend breakdown.

The next key resistance is $60.00, where a clean close above this zone would likely invite follow-through buying, where a new 1GT Bullish Signal could also appear with the next upside target of $63.00.

As long as $57.00 holds as the immediate higher support, the uptrend remains firmly intact.

 Any short-term pullbacks that stay above $57.00 alongside the 20-day moving average that's still sloping up may still offer re-entry opportunities for traders looking to ride the trend into the $60.00, and subsequently toward the $63.00 upside, representing 10% upside from the $57.00 support.

Overall, with the 1GT Bullish signals still active, moving averages aligned, and price structure holding firm above key support, DBS remains technically attractive.

Until a 1GT bearish signal appears, the bias stays bullish, with the current consolidation likely serving as a base for the next move.

So, how does one take a position in DBS Group whereby you are able to reap more potential return to ride either the downside or upside further?

Those keen to ride on the short-term upward momentum in DBS shares can consider using Daily Leverage Certificates (DLCs) traded on SGX to leverage on that move.

The reason for that is that the DLCs can potentially generate magnified returns for a given move in the underlying. 

Traders who are bullish can consider the DBS 5xLongSG280330 (LQSW), while those who are bearish can consider the DBS 5xShortSG261217 (SZWW) as shown below.

Singapore Stock DLCs

The Singapore Stock DLCs are designed to provide a fixed no. of times leverage performance on the underlying Singapore stock’s daily movement, based on a market-to-market close basis on the SGX. 

Using DBS DLCs as an example, this means that for each 1% move in the underlying stock price, the respective DLC will move approximately 5% in the corresponding direction, before fees and costs.

• If the DBS stock rises by 2%, the 5x Long DLC will rise by 10%, and the 5x Short DLC will fall by 10%, before overnight costs and fees.
  

• If the DBS stock falls by 2%, the 5x Short DLC will rise by 10%, and the 5x Long DLC will fall by 10%, before overnight costs and fees.
  

These DLCs are listed and traded on the SGX just like any other stock from 9:00AM to 5:00PM, and can be accessed through your regular brokerage account. 

Visit https://dlc.socgen.com/en/home to find out more. 

About the Author - Joey Choy

Joey is Singapore’s renowned mentor on how to make an income by trading the stock market, an author and one of the most-watched, quoted and followed stock trading trainers in Singapore. Over the years, he has conducted numerous full house seminars, enriching thousands to trade more profitably. 

Joey’s come back story from a S$740k debt has been featured in the Business Times and inspired thousands in Singapore. In less than 3 years, he is highly regarded as one of the Top Tier Remisiers (Stock Brokers) and Traders, bagging numerous yearly awards like Top Trading Representative and Top CFD Achiever every year from 2014 to 2023 in Phillip Securities.

More about Joey here

Hope you have found the above content useful 😃 

If you are keen to find out more on how to be a VIP Client of mine to receive daily market updates and exclusive actionable stock ideas, you can check it out here!

Look forward to see you on the inside!

- Joey

Disclaimer and Warning

This publication is provided by Joey Choy for general information and educational purposes only.

This content has been produced by Joey Choy. Singapore Exchange Limited (“SGX”) and/or its affiliates (collectively with SGX, the “SGX Group Companies”) have not had any input into this publication and/or the content, and SGX shall not be responsible or liable for the same.

This document/material is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document/material has been published for general circulation only. It does not address the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or adopting any investment strategies. Use of and/or reliance on this document/material is entirely at the reader’s own risk. Joey Choy shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast, or any other information contained here.

Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance. Any forecast, prediction or projection in this document/material is not necessarily indicative of the future or likely performance of the product. Examples (if any) provided are for illustrative purposes only.

This document/material is not intended for distribution to, or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject the SGX Group Companies to any registration or licensing requirement.

While each of the SGX Group Companies have taken reasonable care to ensure the accuracy and completeness of the information provided, each of the SGX Group Companies disclaims any and all guarantees, representations and warranties, expressed or implied, in relation to this document/material and shall not be responsible or liable (whether under contract, tort (including negligence) or otherwise) for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind, including without limitation loss of profit, loss of reputation and loss of opportunity) suffered or incurred by any person due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information, or arising from and/or in connection with this document/material.

The information in this document/material may have been obtained via third party sources and which have not been independently verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the content of information provided by third parties (if any). The SGX Group Companies may deal in investment products in the usual course of their business, and may be on the opposite side of any trades. Each of SGX, Singapore Exchange Securities Trading Limited and Singapore Exchange Bond Trading Pte. Ltd. is an exempt financial adviser under the Financial Advisers Act (Cap. 110) of Singapore. The information in this document/material is subject to change without notice. This document/material shall not be reproduced, republished, uploaded, linked, posted, transmitted, adapted, copied, translated, modified, edited or otherwise displayed or distributed in any manner without SGX’s prior written consent. Please note that the general disclaimers and jurisdiction specific disclaimers found on SGX’s website at http://www.sgx.com/terms-use are also incorporated into and applicable to this document/material.

This article was created in partnership with Societe Generale (Singapore branch). This advertisement has not been reviewed by the Monetary Authority of Singapore. The views expressed under this article represent the personal and independent views of the author and do not constitute investment advice. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see http://www.dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.