Fool Trader KLSE Research
Daily Summary - 9 May 2012
YOUR MORNING COFFEE ' Wednesday 9/5/2012
SUMMARY
Source:Jupiter Securities Research 09 May 2012
SUMMARY
- Wall St closed 0.6% lower, due to uncertainty in Greece, and speculation of being drop out of the eurozone. A summit meeting on May 23, may discuss on the need to boost growth in the current austerity drive.
- Dow of 12,932 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 13,140. Support remains at 12,534. RSI of 43 is weakening.
- DOLLAR INDEX is higher at 79.7. Resistance is at 80.9.
- Crude oil is lower at USD97.0. Support is at 92.5.
- Dollar yen is lower at 79.8 yen. Upside is at 81.0.
- Euro/dollar is lower at 1.300. Support is at 1.282.
- Gold is lower at USD1604. Buy. Support is at 1585.
- Shanghai closed lower at 2,448.
- Singapore STI closed higher at 2,931.
- Ringgit is weaker at 3.060. Downside is at 3.110.
- S'pore ringgit is higher at 2.450. Upside is at 2.481.
- Malaysian market closed higher 1590. On the Daily chart, it has bottomed at the recent low of 1566. Upside is at 1592. RSI of 53, is neutral. Stochastic is overbought. Support is at 1585. Today's range is between 1586 and 1596.
- CPO June futures is higher at RM3384. Support is at 3319.
- Trading : LEESK ( 8079 : 0.145 ) : Targeting 0.19/Stop loss 0.13, SANBUMI ( 9113 : 0.37 ) : Buy below 0.345/stop loss 0.32, MJPERAK ( 8141 : 0.31 ) : Targeting 0.36/stop loss 0.295, MHC ( 5026 : 2.00 ) : Take profit/Resistance area 2.08- 2.20
Source:Jupiter Securities Research 09 May 2012
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