Fool Trader KLSE Research
Daily Summary - 17 May 2012
YOUR MORNING COFFEE ' Thursday 17/5/2012
Source:Jupiter Securities Research 17 May 2012
SUMMARY
- Wall St closed 0.26% lower, weighted by uncertainties in the
- Eurozone. This was despite the improvements in housing and industrial
- production. US housing starts rebounded from a 5 month low.
- Industrial production rose 1.1%, the fastest pace in a year.
- Dow of 12,598 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
- 31 is oversold, indicating a limited downside.
- DOLLAR INDEX is higher at 81.3. Resistance is at 81.8.
- Crude oil is lower at USD92.8. Support is at 92.5.
- Dollar yen is higher at 80.3 yen. Upside is at 81.8.
- Euro/dollar is lower at 1.273. Support is at 1.265.
- Gold is lower at USD1543. Support is at 1485.
- Shanghai closed lower at 2,346.
- Singapore STI closed lower at 2,833.
- Ringgit is weaker at 3.111. Downside is at 3.200.
- S'pore ringgit is higher at 2.457. Upside is at 2.481.
- Malaysian market closed lower 1536. On the Daily chart, the current correction is on 1521 support. RSI of 26, is oversold. Stochastic has started to turn downwards. Today's range is between 1530 and 1540.
- CPO July futures is lower at RM3093. Support is at 3000.
- Trading : MITRA ( 9571 : 0.55 ) : Targeting 0.61/Stop loss 0.54, KINSTEL ( 5060 : 0.43 ) : Targeting 0.50/Stop loss 0.40, MBSB ( 1171 : 2.10 ) : Buy below 2.00/Stop loss 1.83, PARKSON ( 5657 : 4.85 ) : Avoid
Source:Jupiter Securities Research 17 May 2012
'' Trading : MITRA ( 9571 : 0.55 ) : Targeting 0.61/Stop loss 0.54
KINSTEL ( 5060 : 0.43 ) : Targeting 0.50/Stop loss 0.40
MBSB ( 1171 : 2.10 ) : Buy below 2.00/Stop loss 1.83
PARKSON ( 5657 : 4.85 ) : Avoid
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