Dear readers, the Singapore Straits Times Index (STI) closed at 3,191.20 for the second week of the new year.
The STI constituent stocks, largely closed in the neutral RSI region.
There was however, one overbought STI stock: SATS, with RSI of above 70.
SATS closed at $2.93 on 12 Jan 24 and was $2.72, a week ago, on 5 Jan 24.
This translates to a weekly gain of 7.35% for the stock in just a week alone!
SATS stock is currently trending towards the resistance of around $3.
Please note that this post is not a recommendation on SATS stocks, investors should do own due diligence when it comes to investing.
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