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
- City Development
- Global Logistics Properties
- Hong Kong Land
- OCBC stock
- SIA stock
- UOL
And there are two oversold stocks:
- Jardine C&C
- Wilmar stock
What it means is that out of the top 30 STI stocks, 7 are Overbought, 2 are Oversold while the remaining 19 ......