Sunday, June 11, 2017

STI & STI STOCKS: AN IMPORTANT ANALYSIS

STI stocks
Dear readers, STI closed at 3,254.19 on 9 Jun 2017, up by 0.53%. If you are to ask me how the Singapore stocks are performing, I can only say that looking at the STI performance, the local stocks markets seem still strong. The immediate resistance to STI is around 3,270.

The STI is but a benchmark of the top 30 Singapore stocks by market capitalization. Looking at the STI constituent stocks yields an interesting insight, there are a couple of overbought STI constituent stocks (seven in total to be exact). They are:
1. Ascenda Reit

2. City Development

3. Global Logistics Properties

4. Hong Kong Land

5. OCBC stock

6. SIA stock

7. UOL

And there are two oversold stocks:

1. Jardine C&C

2. Wilmar stock

What it means is that out of the top 30 STI stocks, 7 are Overbought, 2 are Oversold while the remaining 19 are in the neutral region, consistent with the overall finding that the STI is consolidating, attempting to find either a support or to test a resistance.

What is even more interesting is that if you look at the majority of the Overbought STI stocks, they are properties stock, it means that Properties stocks are popular now. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

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