Based on the closing prices of stocks yesterday, the following are the list of overbought and oversold Singapore stocks.
Overbought Singapore stocks
- Singtel
Oversold Singapore stocks
- ComfortDelgo
- Genting Singapore
- HongKong Land
Looking at the results above, I believe Singtel could have been overbought due to the investors’ hype over Netlink Trust, which is tipped to be the largest local stock listing here since Hutchinson Port Holdings Trust. However, to me, while the listing of IPO of a significant size in Singapore will be good for the local bourse in terms of track record, especially when it comes to attracting overseas investors, a large-size IPO does not always mean it will do well. Just look at Hutchinson Port Holdings Trust, which has been staying below its IPO since IPO. The most important thing investors should look at is good business fundamentals. NetLink Trust has been fined $500,000 ......
