Fool Trader KLSE Research
Daily Summary - 24 May 2012
YOUR MORNING COFFEE ' Thursday 24/5/2012
SUMMARY
SUMMARY
- Wall St closed 0.05% lower, on concern of a possible Greece exit from the eurozone, and the contagion effects. In US, housing has started to improve, with the new home sales rising to an annual pace of 343,000 in April. This followed the earlier existing home sales surge of 3.5% in April, first time since January.
- Dow of 12,496 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 33, is rebounding. Upside is at 12,940.
- DOLLAR INDEX is higher at 82.1. Resistance is at 82.8.
- Crude oil is lower at USD89.6. Support is at 88.5.
- Dollar yen is lower at 79.4 yen. Support is at 78.7.
- Euro/dollar is lower at 1.257. Support is at 1.220.
- Gold is lower at USD1560. Upside is at 1700.
- Shanghai closed lower at 2,363.
- Singapore STI closed lower at 2,786.
- Ringgit is weaker at 3.151. Downside is at 3.200.
- S'pore ringgit is higher at 2.467. Upside is at 2.481.
- Malaysian market closed lower 1539. On the Daily chart, it is in for a technical rebound to 1567, due to the oversold technicals. RSI of 35, has started to recover. Stochastic has started to turn upwards. Today's range is between 1536 and 1546.
- CPO July futures is higher at RM3118. Support is at 3000.
- Trading : TA ( 4898 : 0.54 ) : Targeting 0.62/Stop loss 0.51, UNISEM ( 5005 : 1.27 ) : Buy below 1.26/Stop loss 1.22, YTLLAND ( 2577 : 0.98 ) : Buy below 0.96/Stop loss 0.93, KNM ( 7164 : 0.76 ) : Targeting 0.88/Stop loss 0.72
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
