Dear readers, 40% of the 30 Straits Times Index (STI) constituent stocks were oversold as at 1 Sep 2022.
These oversold 12 STI stocks, each with a RSI of below 30 were as follows:
Oversold STI stocks:
Ascendas Reit
Capitaland Integrated Commercial Trust
ComfortDelgro stock
Frasers Logistics and Commercial Trust
Genting Singapore stock
Keppel DC Reit
Mapletree Industrial Trust
Mapletree Logistics Trust
Mapletree Pan Asia Commercial Trust
SGX stock
ST Engineering stock
Thai Beverages stock
One noteworthy point: all STI Reits and Trusts now are oversold.
Despite 40% of the STI constituent stocks oversold, the STI itself is not oversold now. This is likely because, the larger cap DBS, OCBC and UOB bank stocks are not oversold currently, they along with a handful of STI stocks are neither oversold nor overbought now:
Neither Oversold nor Overbought STI stocks:
Capitaland Investment stock
City Development stock
DairyFarm stock
DBS stock
Hongkong Land stock
OCBC stock
SATS stock
Sembcorp Industries stock
SIA stock
Singtel stock
UOB stock
UOL stock
Venture stock
Wilmar International stock
YangZiJiang stock
Moreover, there are also three overbought STI stocks, which may bring the STI higher. These 3 overbought STI stocks are:
Overbought STI stocks:
Jardine C&C stock
Jardine Matheson Holdings stock
Keppel Corporation stock
Will we see more oversold STI stocks that including the three local banks and larger-cap STI stocks in the coming weeks?
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