Dear readers, the Straits Times Index (STI) was closed flat yesterday, inching down by just –0.2%. As it stands now, the STI is now at 3,170.76. Based on the technical chart, the resistance of the STI is 3,220.
Please take note that this 3,220 level was the previous resistance of the STI as at Feb 2020 too such that from Feb 2020 to now, the STI did not anything higher than 3,220. If the STI did eventually head north past the 3,220 convincingly, then some sustainable upside is possible.
Also, based on the technical chart, the gap of the STI at around 3,025 remains yet to be filled. There is a possibility that should stock markets sentiments turn bearish, the STI will retreat to this 3,025 level.
Some investors would think that a gradual easing of the Heightened Alert measures may serve as a catalyst for Singapore stocks. I would think that this has already been priced in by the investors for the Singapore stocks markets for now.
With a scarcity of positive catalysts, I am of the view that upside for the Singapore stocks markets are limited. Instead, as I have always advised readers here, please continue to build up your savings, your investment warchest to deploy them in the stocks markets when everyone is fleeing. I personally do not know when a stock markets corrections will be coming. But what I know is when the markets corrections come, we should be ready with our investment warchest!
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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