Fool Trader KLSE Research
Daily Summary - 23 May 2012
YOUR MORNING COFFEE ' Wednesday 23/5/2012
SUMMARY
Source:Jupiter Securities Research 23 May 2012
SUMMARY
- Wall St closed 0.01% lower, reacting to the news of Greece preparing to exit the eurozone. US existing home sales surged 3.5% in April, first time since January, hinting that housing is set for recovery.
- Dow of 12,502 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,336. RSI of 33, is rebounding. Upside is at 12,940.
- DOLLAR INDEX is higher at 81.7. Support is at 80.4.
- Crude oil is lower at USD91.6. Support is at 88.5.
- Dollar yen is higher at 80.0 yen. Support is at 78.7.
- Euro/dollar is lower at 1.266. Resistance is at 1.300.
- Gold is lower at USD1566. Upside is at 1700.
- Shanghai closed higher at 2,373.
- Singapore STI closed higher at 2,827.
- Ringgit is weaker at 3.140. Downside is at 3.200.
- S'pore ringgit is lower at 2.461. Upside is at 2.481.
- Malaysian market closed higher 1546. On the Daily chart, it is in for
- a technical rebound to 1567, due to the oversold technicals. RSI of 38,
- has started to recover. Stochastic has started to turn upwards.
- Today's range is between 1540 and 1554.
- CPO July futures is higher at RM3118. Support is at 3000.
- Trading : WINGTM ( 2976 : 2.02 ) : Take profit, PADINI ( 7052 : 1.68 ) : Avoid/Limited upside, CRESBLD ( 8591 : 1.08 ) : Targeting 1.30/Stop loss 1.05, BSTEAD ( 2771 : 4.98 ) : Targeting 5.44/Stop loss 4.88
Source:Jupiter Securities Research 23 May 2012
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