Dear readers, what are the oversold Straits Times Index (STI) stocks trading on SGX now? After a 3.44% correction of the Straits Times Index on 11 Jun 2020? And the Straits Times Index correcting by a further 0.72% to 2,684.63 yesterday. Without further ado, let us find out.
There was just one oversold Straits Times Index (STI) stock as of yesterday (12 Jun 2020). This stock is none other than the oversold stock last week: SGX stock. In fact, SGX stock closed at $8.25 yesterday slightly lower than the $8.45 closing price a week ago on 5 Jun 2020. The single session of the 3.44% STI correction on 11 Jun 2020 was not sufficient to send more STI stocks into the oversold region. Especially since the Straits Times Index (STI) and the STI ETF (ES3) are still overbought.
In fact, there are different level of RSI stocks which the Straits Times Index stocks are trading now. Along with the SGX stock which traded below the RSI level of 30, the following are the different STI stocks and the RSI regions which they are trading in.
Overbought Straits Times Index (STI) stocks (RSI>70%)
1)City Development stock
2)DBS stock
3)Hongkong Land
4)JSH USD stock
5)Sembcorp Industries stock
6)SIA stock
7)ST Engineering stock
8)UOB stock
9)UOL stock
The handful of overbought STI stocks is not unexpected since the STI itself is overbought. While overbought stocks does not necessarily mean that these stocks will head down next, if the bearish market conditions persist, there is a greater likelihood that these overbought stocks will trend down soon.
Straits Times Index (STI) stocks trading at 50%<RSI<70%
1)Ascendas Reit
2)CapitaCommercial Trust
3)Capitaland stock
4)CapitaMall Trust
5)ComfortDelgro stock
6)DairyFarm stock
7)Genting Singapore stock
8)Jardine C&C stock
9)JMH USD stock
10)Keppel Corporation stock
11)Mapletree Commercial Trust
12)Mapletree Industrial Trust
13)OCBC stock
14)SATS stock
15)Singtel stock
16)Thai Beverages stock
17)Wilmar International stock
18)YangZiJiang stock
Straits Times Index (STI) stocks trading at 30%<RSI<50%
1)SPH stock
2)Venture stock
Given that SPH stock and Venture stock are already trading close to the Oversold RSI region (RSI<30), if the bearish markets conditions persist, these two STI stocks are likely to be oversold next.
Oversold Times Index (STI) stocks (RSI<70%)
1) SGX stock (which I have discussed earlier)
One important caveat which I have been highlighting in regard to oversold stocks: Oversold stocks do not necessarily mean that these stocks could rebound next. This post of oversold Straits Times Index stock is but just part of a weekly series to make sense of and share the latest status of the Straits Times Index and its constituent stocks.
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