Dear readers, let us take a look at the oversold Singapore Straits Times Index (STI) stocks as of the trading week ended 9 Oct 2020. These oversold Straits Times Index stocks each has a Relative Strength Index of below 30, indicating that the stock is oversold.
Before we get to the list of these oversold Singapore Straits Times Index (STI) stocks, let us talk a little about the STI stocks. Over the years, several STI constituent stocks or now former STI constituent stocks have fallen to a much modest level. Not surprising to me, since I always am of the view that some so-called blue-chip stocks are no longer so in this decade marked by profound economical and geo-political changes continuously. And also, Singapore’s rapid urbanisation and industrialisation which helped boosted the STI stocks is already over.
Without further ado, let us take a quick look at the oversold Straits Times Index (STI) stocks. There are no oversold STI stocks as of the week ended 9 Oct 2020.
This is of little surprise to me since the Straits Times Index managed to edge past the 2,500 support level to close 2,532.96.
I remain unconvinced that the Straits Times Index will make further gains and think the index will go back to 2,500 again. Just look at the global situation of the ongoing Covid-19 and worsening economic outlook, I think the realities have not caught up with the stocks markets.
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!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!