Dear readers, the Straits Times Index (STI) stocks rallied today, closing the day 2.03% higher at 2,666.85 after the government announced that the Phase 2 Safe Re-opening will commence this Friday (19 Jun 2020). Let us take a look at the top five Straits Times Index (STI) with the largest rally today.
The five STI stocks and their price gains are:
1) CapitaCommercial Trust: 6.4%
2) CapitaMall Trust: 4.9%
3) SATS stock: 4.5%
4) ComfortDelgro stock: 3.8%
5) City Development stock: 3.7%
As per shared in an earlier “Oversold Straits Times Index (STI) stocks on SGX now” post , of the five STI stocks which rallied the most today, with the exception of City Development stock which is currently overbought, the remaining four stocks are neither oversold nor overbought (each having a RSI level of between 30% to 70%).
It is also not surprising to me that after a STI markets correction of over 3% on one of the trading days last week, investors of Singapore stocks are rallying after Trusts again (as seen in the highest rally for CapitaCommercial Trust and CapitaMall Trust). I have previously shared with readers how the Lion-Phillip S-Reit (a Reit which centres on Singapore Reits) has outperformed two Reits which are focused on STI stocks
Having said the above, I am still of the view that more downside is on the card for the Singapore stocks markets. Near-term support remains at 2,500 with a target of 2,000 when the stocks markets correct.
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!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!