Dear readers, time flies really fast! It is time for our weekly scanning of the oversold Singapore Straits Times Index (STI) stocks once again. Without further ado, the seven oversold STI stocks, each having a RSI ratio of below 30 are:
DBS stock
Keppel Corporation stock
OCBC stock
SATS stock
Sembcorp Industries stock
SIA stock
Singtel stock
Looking at the names of the seven STI stocks, they are indeed Singapore brand names for conglomerates, banks, airlines and telecoms. And these stocks have become oversold. For some, not just oversold, but at historically low levels. Take a look at these:
Keppel Corporation: $4.28
Sembcorp Industries: $1.33
Singtel stock: $2.21
I am not surprised at the performance of many of the STI stocks. Many of the STI stocks were former blue-chip stock whose prices have done very well during the industrialisation phase of Singapore. Beyond the industrialisation phase, I noted many of these stocks venture overseas to capture a slice of the global market as Singapore market is limited. It is during this overseas expansion that I noted many of the STI stocks fall prey to the competitive and now increasingly more volatile nature of the global economy
That begs the question: if these STI stocks are already trading at these levels now, what’s next for them when a global financial meltdown comes? Investors looking into these seven oversold stocks may need to be assured that they are okay to holding these stocks for the longer term and there is potential for these stocks to do well in the longer term. Else at this level, they may catch a falling knife because nobody knows whether there is a next new low level for these stocks especially when the markets these days are so bearish!
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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