Dear readers, in the second half of this year, the Singapore stocks markets have taken a more unpredictable turn. So much so, that more and more STI stocks have become oversold. Are Singapore stocks cheap right now?
In my post on Oversold STI stocks last week, as of 8 Aug 2018, there were 18 Oversold STI stocks (as comparted to 8 oversold STI stocks for the week ended 2 Aug 19). And in the aforementioned post, in view of more and more STI stocks being Oversold, I have commented that more STI stocks would be oversold in time to come. And true enough, for the week ended 16 Aug 19, there are a whopping 22 Oversold STI stocks, as highlighted in green cells in the table above.
Some investors may think that by virtue of stocks being oversold, it is a good time to invest in these stocks right now, especially since these stocks are also STI constituent stocks. This thinking is not really correct since when the market trend is generally down, it is not easy to make monies by buying stocks.
Besides, I don’t think the Singapore stocks markets though oversold now is exactly cheap right now. Just look at DBS stock price which is $24.70 per share; this is not a low level despite the stocks markets having some recent corrections. I would think at the very best, Singapore stocks will continue to consolidate at the current corrected levels.
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