Dear readers, it is time once again to take a look at the list of Overbought, Oversold Singapore Straits Times Index (STI) stocks.
As at 12 Jul 2024, the Overbought STI stocks are:
Capitaland Investment
Capitaland Ascendas Reit
Capitaland Integrated Commercial Trust
Mapletree Industrial Trust
Mapletree Pan Asia Commercial Trust
OCBC
SATS
Singtel
UOB
Venture
There were no Oversold STI stocks.
Overall, the Singapore stocks market is currently very bullish. The Straits Times Index, Singapore stock markets benchmark indicator is currently overbought. And the bullish accounts for why 10 of the 30 STI constituent stocks are currently overbought as well.
Given the soon-to-be-expected interest rates cut, is it any surprise that the Reits and Trusts are doing so well, with 5 of the Overbought STI stocks being Reits and Trusts?