Singapore stocks open higher, with 4 gainers for every decliner, following positive cue from Wall Street Friday, says Dow Jones.

Blue chips, however, struggling as interest turns to lower liners. STI +0.1% at 2,975.04 vs +0.2% in early trade, expected to encounter resistance at 3,000, with last week’s low of 2926 tipped as support.

“While we do remain positive on the STI for the current week, we do note that the 14-day RSI is fast approaching the overbought territory,” says DMG technical analyst James Lim, “We thus advocate investors to start closing off their long positions while aggressive traders may then opt to short the market (if the STI revisits year-to-date high of 3,037).”

Notable gainers among STI components include SIA Engineering (S59.SG), +1.5% at $4.19, Genting Singapore (G13.SG), +1.7% at $1.23, NOL (N03.SG), +1.0% at $2.02.