Dear readers, let us take a look at the list of Oversold, Overbought Straits Times Index stocks as of 22 Jul 2019. As usual, I have represented the Oversold, Overbought and neither Oversold nor Overbought stocks on the stocks map below. As it would be easier for all to reference from the stocks chart, don’t you agree?
It is an interesting look at the state of the Straits Times Index stocks. We have a total of seven oversold STI stocks as represented by the blue cells, while three stocks are overbought (as represented by the orange cells) .
As compared to the screening of the STI stocks on 12 Jul 2019, where there was only one Oversold stock, now we have seven oversold Straits Times Index stock. I would think going forward, more Straits Times Index stock will become Oversold as Singapore stocks in general head south.
For why would investors want to invest against the current volatile backdrop. Once sellers emerge, there will be more downward pressure for Singapore stocks.
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