Dear readers, the current Straits Times Index is Oversold now. This has given rise to many speculating or wonder whether the next stocks markets correction is on the way, be it for Singapore stocks or international stocks.
And some are wondering whether the Straits Times Index (STI) will revisit the year-to-date low of 2,234.48 reached on 23 March 2020? My points as often shared on SG Stocks Investing are this: near-term support of 2,500 and worst-case support of 2,000 in an all-out stocks markets meltdown. Though I have in a previous post not ruled out the Straits Times Index falling back to 1,700 or even 600 in the next stocks markets financial meltdown.
As of now, half (fifteen) Straits Times Index (STI) constituent stocks are oversold now and they are:
CapitaCommerical Trust
CapitaMall Trust
Capitaland stock
ComfortDelgro stock
DairyFarm stock
DBS stock
Genting Singapore stock
HongKong Land stock
Keppel Corporation stock
Mapletree Commercial Trust
OCBC Bank stock
Sembcorp Industries stock
SIA stock
Thai Beverages stock
UOB stock
Despites having such a number of these STI stocks oversold, I believe it is early to go into these stocks with the larger trend of the stocks markets going south. Upside potential of any STI stocks if any are limited.
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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