Dear readers, the Straits Times Index (STI) has headed north in recent sessions arising from gain of most of its constituent stocks. Hence, as compared to last Friday where there were fourteen oversold STI stocks , the number of oversold STI stocks has now been greatly reduced to just four. The four oversold Straits Times Index (STI) are:
Jardine C&C stock
SIA stock
UOB stock
UOL stock
At 2,610.17 for the STI, we have reached the same level of the STI as of first quarter 2016, only that right now, we have uncertainties from Covid-19 and very bearish stock markets outlook factored. With these factors in mind, I continue to hold a bearish view of the Singapore stocks markets. I predict a correction to 2,500 in the coming week with a massive correction to 2,000 once the corrections start and continue.
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