Fool Trader KLSE Research
Daily Summary - 16 Apr 2012
YOUR MORNING COFFEE ' Monday 16/4/2012
SUMMARY
- Wall St closed 1.0% lower, affected by the slow down in the Chinese economy, which recorded 8.1% growth in 1Q'2012. This was despite a better than expected 1Q'2012 corporate earnings. Consumer
- sentiment index dipped to 75.7 in April.
- While the Dow of 12,849, may stage a technical rebound, a dip below 12,710 will target lower level of 12,620. Resistance is at 13,154. RSI of 42, and Stochastic are on base forming.
- Crude oil is lower at USD102.8. Upside is at 108.0.
- Dollar yen is lower at 80.9 yen. Downside is at 80.1.
- Euro/dollar is lower at 1.306. Upside is at 1.346.
- Gold is lower at USD1660. Buy. It is about to resume its uptrend.
- Shanghai closed higher at 2,359.
- Singapore STI closed higher at 2,989.
- Ringgit is firmer at 3.058. Downside is at 3.110.
- S'pore ringgit is higher at 2.444. Resistance is at 2.440.
- Malaysian market closed higher at 1603. On the Daily chart, it is in for a small technical rebound, as the RSI of 62 has gone neutral. Upside is at 1615. Today's range is between 1597 and 1607.
- CPO May futures is lower at RM3565. Resistance is at 3630.
- Trading : AWC ( 7579 : 0.31 ) : Targeting 0.40/stop loss 0.28, MBSB ( 1171 : 2.17 ) : Take profit, CEPAT ( 8982 : 1.18 ) : Targeting 1.32/ stop loss 1.14, AIRASIA ( 5099 : 3.47 ) : Targeting 3.74/stop loss 3.38.
Source:Jupiter Securities Research 16 April 2012
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