Fool Trader KLSE Research
Daily Summary - 10 May 2012
YOUR MORNING COFFEE ' Thursday 10/5/2012
SUMMARY
- Wall St closed 0.7% lower, as Europe continues to reel in uncertainties. A summit meeting on May 23, is scheduled to discuss on the need to boost growth in the current austerity drive.
- Dow of 12,835 is heading lower, following the breach of the key support of 13,100. A technical rebound is possible due to the oversold level. Upside is capped at 13,050. Support remains at 12,534. RSI of 39 is weakening.
- DOLLAR INDEX is higher at 80.1. Resistance is at 80.9.
- Crude oil is lower at USD96.8. Support is at 92.5.
- Dollar yen is lower at 79.6 yen. Upside is at 81.0.
- Euro/dollar is lower at 1.294. Support is at 1.282.
- Gold is lower at USD1594. Support is at 1544.
- Shanghai closed lower at 2,408.
- Singapore STI closed lower at 2,910.
- Ringgit is weaker at 3.072. Downside is at 3.110.
- S'pore ringgit is higher at 2.450. Upside is at 2.481.
- Malaysian market closed lower 1584. On the Daily chart, it has bottomed at the recent low of 1566. Upside is at 1592. RSI of 49, is neutral. Stochastic is overbought. Support is at 1572. Today's range is between 1576 and 1586.
- CPO June futures is higher at RM3369. Support is at 3319.
- Trading : TRC ( 5054 : 0.74 ) : Targeting 0.815/Stop loss 0.70, CIMB ( 1023 : 7.64 ) : Targeting 8.16/Stop loss 7.54 ,PERISAI ( 0047 : 0.91 ) : Targeting 1.12/Stop loss 0.87, MUHIBAH ( 5703 : 1.30 ) : Targeting 1.45/Stop loss 1.22
Source:Jupiter Securities Research 09 May 2012
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