Fool Trader KLSE Research
Daily Summary - 17 Apr 2012
YOUR MORNING COFFEE ' Tuesday 17/4/2012
SUMMARY
Source:Jupiter Securities Research 17 April 2012
SUMMARY
- Wall St closed 0.5% higher, due to up beat reports on retail sales and corporate earnings. Retail sales rose 0.8% in March, beating the 0.3% estimate. However manufacturing activity in New York fell sharply on the Empire index, down to 6.6 from 20.2. And the yield on the Spanish bond rose.
- While the Dow of 12,921 is on a technical rebound, caution is on a key support 12,710, which will target lower level of 12,620, if breached. Resistance is at 13,154. RSI of 46, and Stochastic are on base forming.
- Crude oil is higher at USD102.9. Upside is at 108.0.
- Dollar yen is lower at 80.3 yen. Downside is at 80.1.
- Euro/dollar is higher at 1.312. Upside is at 1.346.
- Gold is lower at USD1649. Buy. It is about to resume its uptrend.
- Shanghai closed lower at 2,357.
- Singapore STI closed higher at 2,988.
- Ringgit is weaker at 3.067. Downside is at 3.110.
- S'pore ringgit is higher at 2.449. Resistance is at 2.480.
- Malaysian market closed lower at 1597. On the Daily chart, it is in for a small technical rebound, as the RSI of 57 has gone neutral. Upside is at 1615. Today's range is between 1595 and 1605.
- CPO June futures is lower at RM3489. Support is at 3420.
- Trading : KNM ( 7164 : 0.90 ) : Targeting 1.04/stop loss 0.87, RSAWIT ( 5113 : 1.12 ) : Sell ' hit 1.13 target, KHSB ( 6246 : 0.53 ) : Targeting 0.66/stop loss 0.50, WTK ( 4243 : 1.52 ) : Targeting 1.75-1.85/stop loss 1.45
Source:Jupiter Securities Research 17 April 2012
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