WHAT TO KNOW ABOUT DBS AND STRAITS TIMES INDEX RIGHT NOW?

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Dear readers, it is another week for the Singapore stocks markets. So, what are the developments for Singapore stocks this week? Let us find out from this post today.

First, of all, the Straits Times Index (STI) closed the week ended 3 May 24, at 3,292.93. This is a resistance level and I believe the STI will be testing this resistance level going ahead. At the current level, the STI is in a neutral region. 

But what is interesting is that the STI ETF (ES3.SI) is trading in an Overbought region. Based on historical trends, most of the times the STI ETF is Overbought, the STI ETF and STI is likely to correct next, hence investors vested in the STI may want to take note of this.

On the broader front, the STI stocks are trading in neutral RSI region, except for DBS stock which is trading in an Overbought region. This is inevitable as DBS stock is currently trading at one of the highest levels in recent years.

That's it for my insights for Singapore stocks markets for the week, catch up with you on my next post!


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