Fool Trader KLSE Research
Daily Summary - 18 May 2012
YOUR MORNING COFFEE ' Friday 18/5/2012
SUMMARY
Source: Jupiter Securities Research 18 May 2012
MRCB ( 1651 : 1.58 ) : Targeting 1.82/Stop loss 1.46
BIMB ( 5258 : 2.42 ) : Targeting 2.70/Stop loss 2.34
SUMMARY
- Wall St closed 1.2% lower, on Greece's future in the eurozone. The uncertainty has led to the ECB suspending lending to some Greek banks. Weekly US initial jobless claims unchanged at 370,000.
- Regional manufacturing activity index in the Philadelphia region, was down to 5.8 from 8.5. Index of leading indicators down 0.1%.
- Dow of 12,442 is heading lower. A technical rebound is possible due to the oversold level. Upside is capped at 12,940. Support is 12,285. RSI of 26, indicates a limited downside.
- DOLLAR INDEX is higher at 81.4. Resistance is at 81.8.
- Crude oil is lower at USD92.5. Support is at 92.5, 88.5.
- Dollar yen is lower at 79.3 yen. Support is at 78.7.
- Euro/dollar is lower at 1.270. Support is at 1.265.
- Gold is higher at USD1575. Upside is at 1700.
- Shanghai closed higher at 2,378.
- Singapore STI closed lower at 2,829.
- 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 higher 1544. On the Daily chart, the current correction is on 1521 support. RSI of 32, is oversold. Stochastic has started to turn upwards. Today's range is between 1538 and 1548.
- CPO July futures is higher at RM3124. Support is at 3000.
- Trading : GENM ( 4715 : 3.58 ) : Targeting 3.93/Stop loss 3.50, YTLPOWR ( 6742 : 1.55 ) : Avoid/Testing 1.37
Source: Jupiter Securities Research 18 May 2012
MRCB ( 1651 : 1.58 ) : Targeting 1.82/Stop loss 1.46
BIMB ( 5258 : 2.42 ) : Targeting 2.70/Stop loss 2.34
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