Let us review what the noteworthy STI stocks for the week of 12 Jun 2017 to 16 Jun 2017 are.
Ascenda Reit, HPH US Trust, SIA Engineering, Thai Beverage: these four stocks are Overbought with RSI of over 30.
Keppel Corp and Sembcorp Marine: these two stocks are Oversold with RSI of below 30.
While it does not always mean that Overbought stocks might trace south next and Oversold stocks might bound north next, it is important to relate oversold and overbought stocks with the STI. The STI ETF which tracks the STI is currently at a RSI of around 59, which is in the neutral zone. Having a greater number of Overbought stocks compared to Oversold stocks means that generally the Singapore stocks are still performing okay, though strictly speaking, looking at the technicals, the STI is consolidating.
I am heartened to see the Overbought stocks …