DBS was one of the earlier blue chip companies to announce the rights issue this year. After the rights had been issued, a shooting star candlestick formation could be spotted. Following this bearish candlestick pattern, the price dived to a low of $6.43 before joining the rest of the market in the recent rally. Currently the Stochastic is seen to be in the overbought level while also moving very close to the 50-day moving average, thereby  indicating likely resistance to further upside. DBS is also reaching its horizontal resistance of $7.83 The technical support will be at the recent low of $6.43 which also represents the 2009 low.