India, Singapore, Vietnam stocks at oversold levels

Stock markets in India, Singapore and Vietnam are trading at oversold levels and could see a potential rise, data from Thomson Reuters StarMine shows.

India leads the pack of eight countries in Asia with the lowest percentage of stocks trading above their 200-day Simple Moving Average, followed by Singapore, Vietnam and Australia.

 In general, when the number of stocks trading above their 200-day SMA comes below 20 percent of the total stocks traded, many traders look for a reversal to the upside. When this number gets above 90 percent, traders expect a fall.

The number of stocks trading above the 200-day SMA

The percentage of stocks trading above the 200-day SMA

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