Fool Trader KLSE Research
Daily Summary - 30 May 2012
YOUR MORNING COFFEE ' Wednesday 30/5/2012
SUMMARY
SUMMARY
- Wall St closed 1.0% higher, due more so to bargain hunting. Then, there is the hope that China will support the economy. US Consumer confidence index dipped to 64.9. Case-Shiller index of home prices fell 2.6% annual rate. Focus is on this Friday's job number, which is expected to show 155,000 jobs added in May.
- Dow of 12,580 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 41, is rising. Upside is at 12,940.
- DOLLAR INDEX is higher at 82.5. Resistance is at 82.8.
- Crude oil is higher at USD90.7. Support is at 88.5.
- Dollar yen is higher at 79.5 yen. Upside is at 81.2.
- Euro/dollar is lower at 1.247. Support is at 1.220.
- Gold is lower at USD1553. Upside is at 1700.
- Shanghai closed higher at 2,389.
- Singapore STI closed higher at 2,806.
- Ringgit is weaker at 3.158. Downside is at 3.200.
- S'pore ringgit is higher at 2.469. Upside is at 2.481.
- Malaysian market closed higher 1565. On the Daily chart, it is in for a technical rebound to 1590, due to the oversold technicals. RSI of 50, has started to recover. Stochastic has started to turn upwards. Today's range is between 1558 and 1572.
- CPO July futures is higher at RM3175. Support is at 3000.
- Trading : BIMB ( 5258 : 2.55 ) : Take profit, LEESK ( 8079 : 0.145 ) : Targeting 0.19/Stop loss 0.125, SBCCORP ( 5207 : 0.93 ) : Targeting 1.00/Stop loss 0.86, E&O ( 3417 : 1.43 ) : Targeting 1.53/Stop loss 1.38
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