Dear readers, the US stocks closed nearly 3% down last Friday. This is very likely to cause Singapore stocks to close lower when the markets open tomorrow. Let us take a look at the Oversold Straits Times Index stocks right now.
As per the chart above, there are twelve Oversold Singapore Straits Times stocks (marked in orange cells). SGX and Thai Beverages stock are the only two Overbought stocks (marked in green cells). The remaining STI stocks are at a neutral RSI level.
From the above snapshot, all the current three banks are Oversold. Recently, I also shared how DBS stock is entering into a longer downtrend. Same Oversold status for the stocks in relation to Hong Kong: HPH Trust and the Jardine family of stocks. Same as for the energy and offshore marine leader stocks in Keppel and Sembcorp Industries.
More Singapore stocks are likely to be sold off in the near time due to the vagaries in the macro environment.
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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