Dear readers, there is currently one Oversold Straits Times Index (STI) stock on the Singapore stocks market. As a context, the Singapore stocks markets as measured by the benchmark Straits Times Index is neither oversold nor overbought with a RSI of just above 50%. This echoes the RSI for all the other STI constituent stocks as many of them are trading in the RSI level of between 30% to 50% (i.e. neither overbought nor oversold too).
The only oversold STI stock is none other than Jardine Strategic Holdings (JSH) stock as the stock closed at USD 20 per share yesterday. JSH has been a regular feature in the oversold STI stocks list At USD 20 per share, JSH stock is about 12% higher than its 52-weeks low of USD 17.81.
Not only is JSH stock currently oversold, the stock is also undervalued with its Price-to-Book ratio of 0.63. The dividend yield of JSH stock is also modest at just 1.75%.
No doubt the fundamentals of JSH stock do look attractive with the stock being oversold and undervalued, the volatilities in the macro stock markets (Covid-19 and emerging US-China trade tensions) are likely to shape the development of this stock (just as with all other stocks). Further, investors looking into this stock should take note of the developments in the relationship between China and Hong Kong as well as the outlook of the USD dollar since JSH stock is denominated in USD.
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