Dear readers, let us take a look at the Oversold Straits Times Index (“STI”) stocks for the week ended 13 Sep 19. As usual, for the ease of reference to readers, we will use the stocks maps chart above to facilitate the discussion.
Based on the stocks map above, there are two categories of Singapore stocks: one group in yellow and the other in green. The yellow-shaded STI stocks represent stocks which have been Overbought while the green-shaded STI stocks represent stocks which are at the neutral point of the Relative Stocks Index (i.e. neither Overbought nor Oversold).
As such, there is no Oversold STI stock for the week ended 13 Sep 19. Instead, there are 11 STI stocks which are Overbought which correlates to the Overbought level for the STI as a whole. I believe the bullishness in STI comes from the moderating trade tensions as well as for other macro socio-political developments in the world as well.
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