Dear readers, let us take a look at the Oversold Singapore Straits Times Index stocks as at 2 Aug 2019. When we last looked at the Oversold Straits Times Index stocks, we noted that there were a five oversold and five overbought stocks.
With the macro-developments which have confronted markets last week: mainly the threats of more US tariffs against China and the Federal Reserves’ signaling of once-off rates cut, how have the biggest Singapore stocks responded? Which are the Oversold Singapore Straits Times Index stocks currently? To find out, let us take a look at the stocks map above.
As one could have expected from the macro developments in equities, there is no Overbought Straits Times stock currently. There are eight Oversold Singapore Straits Times stocks as illustrated by the brown cells of the stocks map above.
Indeed, the number of Oversold Straits Times index stocks has increased since the vagaries of the macro stocks markets have increased in tandem. I expect the general trend of Singapore is south in the near term with at best a consolidation at around the current level.
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