With inflation figures finally showing signs of cooling in the last few days, we have seen a spike in many share price of technology stocks that have been heavily sold down since beginning of the year.
What about AEM, UMS and Frencken which are some of the most popular stocks in Singapore?
Is the worst really over? Or can it be just a dead cat bounce?
This post was originally posted here. The writer, Joey Choy is a veteran community member and blogger on InvestingNote, with a username known as @JoeyChoy and has close to 5300 followers.
Since 4 Oct 2022, SGX has fallen for 12 consecutive sessions, logging its longest losing streak since IPO in 2000! Over the past 12 sessions, SGX has lost a total of 12.5%, or $1.19 to close at $8.33 on 20 Oct 2022. It is noteworthy that STI has only fallen 3.7% over the same period. In addition, SGX’s RSI closed 13.3, the lowest since 2008!
This post was originally posted here. The writer, Ernest Lim is a veteran community member and blogger on InvestingNote, with a username known as @el15 and has close to 600 followers.
Some noteworthy points below
a) Average analyst target: $10.08
Based on Bloomberg (see Fig 1 below), average analyst target price is around $10.08. If consensus is right and assuming that analysts do not change their target prices, SGX offers a potential capital upside of around 21%. Coupled with an estimated dividend yield of around 3.9%, total potential return is around 25%.
For the eagle eye readers, you will have noticed that since 10 Oct, there have been mixed analyst calls. To some extent, the recent decline can be attributed to the recent sell calls on SGX with target prices ranging from $8.00 – 9.25.
Figure 1: Bloomberg compilation of analyst target prices for SGX
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In investing terms, longing a stock essentially means buying a stock, with the hopes of it become higher to make a profit. The opposite can be said for shorting a stock which means selling a stock with the expectation of the price can become lower.
However, longing a stock isn’t the only way to make a profit.
Short selling too, can achieve the same purpose.
A brief explanation of short selling:
Short selling essentially means you borrow a stock, with the expectation to buy it back at a lower price in order to make a profit. The profit is realized when the stock is bought back at a lower price and returned. Borrowing of stock occurs through brokerages.
In terms of transaction volume, there is also short sell volume. Short sell volume of a stock is the total number of shares short sold in the entire market during a given period of time. This does not include any CFD shorts. …
*Note: this tutorial is NOT teaching Technical Analysis, but the utilisation of the charting tool. All stocks, indicators and drawings shown are just for illustration purposes to show the functions of our tool.