Dear readers, what’s next on the Straits Times Index (STI) and Singapore stocks for investors?
Well, as a recap and as what I have mentioned, the bullishness from Biden’s US Presidential win and the positive development in the Covid-19 vaccine are expected to provide only a short-term boost to the stock markets. And true enough, the STI seems to show some sign of pulling back from a higher rally with its humble showing of 0.3% gain yesterday.
From the technical chart, the STI is now overbought with a RSI of above 70. Whenever the STI is overbought, a stocks markets correction will soon present itself. Hence investors, please be prepared for such a correction coming. There is still some way to go for more results of the development of the Covid-19 vaccine and right now, the Covid-19 cases are still not optimistic, all these reasons suffice to bring out the bears to the stocks markets.
Investors, hold your monies first for the next opportunities in the stocks markets that are coming.
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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