Dear readers, among the Singapore Straits Times Index (STI) stocks, two stocks: DBS and Emperador were of focus this week.
Similarly, there is one non-STI stock, Frasers Centrepoint Trust, that is of focus.
Let us dive straight into this article to find out more!
DBS is now at an Overbought (RSI > 70) level. For the week, the stock is up 2.60% and DBS stock seems to have broken the $34.50 resistance. It will remain to be seen on whether DBS stock will continue to test the aforementioned resistance for the coming days, especially given that the stock is now overbought.
On the other spectrum of the STI, Emperador is now at an Oversold (RSI<30) level. The stock has since been declining from the $0.50 price (that it has been trading since Apr 24) on each consecutive days of the previous week. The decline could be due to the fact that Emperador will be removed from the STI, with effect from tomorrow 18 Mar 24. Emperador stock closed at $0.40 on 15 Mar 24, which is a 20% decline from the week before.
And replacing Emperador stock is none other Frasers Centrepoint Trust! This stock is currently trading around the $2.18 level and let us see whether its inclusion into the STI will be a catalyst to move the stock up.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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