Dear readers, welcome to a brand new week! Let us take a look at today’s post about whether seven Singapore stocks are cheap now?
Before we proceed, I hope you have had a great weekends, rejuvenating yourself after a week of work, or catching up with your family and friends. For myself, I managed to catch up on some sleep last Saturday, so much so I woke up close to noon! But really, my body needs some rest, especially after still unrelenting pace of work, day in and day out, during office hours and after. No surprise, that I still continue working on my office laptop even during the weekends.
Ok, now let us get back to todays’ topic.
The Singapore Straits Times Index (STI) is the benchmark indicator of the Singapore stocks markets. As at 17 Feb 23 (last Friday), seven STI stocks were oversold based on RSI of each below 30 and they are:
Capitaland Integrated Commercial Trust
City Development stock
Hongkong Land stock
Mapletree Pan Asia Commercial Trust
SGX stock
Thai Beverages stock
UOL stock
Are the above seven STI stocks cheap now? Well, I would only gauge RSI indicator as a measure of oversold or overbought and deem Singapore stocks to be cheap or attractive only during stock markets correction.
There is one Overbought STI stock, with RSI of above 70 and this stock is Genting Singapore stock.
Yes, that means to say the remaining STI stocks are currently trading in a neutral RSI zone:
Capitaland Ascendas Reit
Capitaland Investment stock
DairyFarm stock
DBS stock
Emperador stock
Frasers Logistics and Commercial Trust
Jardine C&C stock
Jardine Matheson Holdings stock
Keppel Corporation stock
Keppel DC Reit
Mapletree Industrial Trust
Mapletree Logistics Trust
OCBC stock
SATS stock
Sembcorp Industries stock
SIA stock
Singtel stock
ST Engineering stock
UOB stock
Venture stock
Wilmar International stock
YangZiJiang stock
Have a Good week ahead!
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