Dear readers, let us take a look at how the Straits Times Index (STI) Singapore stocks performed for the trading week ended 27 Aug 21. We are going to take a look at which STI stocks are Oversold (RSI<30), Overbought (RSI>70) and Neutral.
As a start, the Singapore Straits Times Index (STI) is on the verge of being oversold. Yesterday, the STI went down 0.92% to 3,080.77 which is close to the 3,000 psychological level. At this current level, the Singapore stocks markets has given up all the gains it has made since mid May 2021 where it closed at 3,079.69 on 17 May 2021.
The 3,000 mark is a support level. If the STI is to cross below 3,000 support in the coming sessions, I would think the Singapore stocks markets are going to see a correction next. Already, nine STI constituent stocks have been oversold, including one banking stock as below:
Oversold STI stocks:
Capitaland Integrated Commercial Trust
Keppel DC Reit
Mapletree Commercial Trust
Mapletree Industrial Trust
Mapletree Logistics Trust
OCBC stock
SGX stock
ST Engineering stock
Wilmar International stock
As per the above list, OCBC stock is currently oversold but again this is not a good time to invest in OCBC stock as upsides are really limited on the back of the current lacklustre stock markets backdrop.
There are no overbought STI stocks.
The list below are STI stocks which are trading at neutral level (neither Overbought nor Oversold):
Ascendas Reit
Capitaland stock
City Development stock
ComfortDelgro stock
DairyFarm stock
DBS stock
Frasers Logistics and Commercial Trust
Genting Singapore stock
Hongkong Land
Jardine C&C stock
Jardine Matheson Holdings stock
Keppel Corporation stock
SATS stock
Sembcorp Industries stock
SIA stock
Singtel stock
Thai Beverages stock
UOB stock
UOL stock
Venture stock
YangZiJiang stock
A stocks markets correction is coming to the stock markets soon, are you ready?
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