SMARTAG ( 0169 : 0.225 ) : Targeting 0.28
Description
Wireless technologies
Resistance : 0.28
Support : 0.20
RSI of 54
RSI is rising
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current recovery, is eyeing 0.28. Stop loss should be placed at 0.21
Trading Strategy
Buy. Stop loss is at 0.20
Source:Jupiter Securities Research 30 March 2012
Thursday 29 March 2012
Stock Overview - NICORP - 30 Mar 2012
NICORP ( 4464 : 0.48 ) : Targeting 0.58
Description
Property
Resistance : 0.58
Support : 0.42
RSI of 47
RSI has stabilised
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The current correction from 0.74 is ending, due to the oversold technicals
Trading Strategy
Buy. Stop loss is at 0.42
Source:Jupiter Securities Research 30 March 2012
Description
Property
Resistance : 0.58
Support : 0.42
RSI of 47
RSI has stabilised
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The current correction from 0.74 is ending, due to the oversold technicals
Trading Strategy
Buy. Stop loss is at 0.42
Source:Jupiter Securities Research 30 March 2012
Stock Overview - BINTAI - 30 Mar 2012
BINTAI ( 6998 : 0.38 ) : Targeting 0.48
Description
Engineering services
Resistance : 0.48
Support : 0.35
RSI of 64
RSI is rising
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The breakout yesterday, is heading for the 50% retracement of 0.48
Trading Strategy
Buy. Stop loss is at 0.35
Source:Jupiter Securities Research 30 March 2012
Description
Engineering services
Resistance : 0.48
Support : 0.35
RSI of 64
RSI is rising
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The breakout yesterday, is heading for the 50% retracement of 0.48
Trading Strategy
Buy. Stop loss is at 0.35
Source:Jupiter Securities Research 30 March 2012
Stock Overview - KBB - 30 Mar 2012
KBB ( 7182 : 0.58 ) : Targeting 0.63, 0.74
Description
Food manufacturer
Resistance : 0.63 0.74
Support : 0.51
RSI of 69
RSI is slightly overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current run up, is eyeing 0.63. Stop loss should be placed at 0.51
Trading Strategy
Buy. Stop loss is at 0.51
Source:Jupiter Securities Research 30 March 2012
Description
Food manufacturer
Resistance : 0.63 0.74
Support : 0.51
RSI of 69
RSI is slightly overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current run up, is eyeing 0.63. Stop loss should be placed at 0.51
Trading Strategy
Buy. Stop loss is at 0.51
Source:Jupiter Securities Research 30 March 2012
Daily Summary - 30 Mar 2012
YOUR MORNING COFFEE – Friday 30/3/2012
SUMMARY
· Wall St closed 0.1% higher. Weekly initial jobless claims dipped to 359,000. Overall, markets appear to drift cautiously, ahead of the first quarter results season next month. Consensus opinions call for a dip in corporate earnings, and this may be the catalyst for a correction in the 2Q’2012.
· Dow of 13,145, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 56, is neutral. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is lower at 79.0. Downside is at 78.6.
· Crude oil is lower at USD102.8. Support is at 101.0.
· Dollar yen is lower at 82.2 yen. Support is at 80.5.
· Euro/dollar is higher at 1.332. Upside is at 1.347.
· Gold is lower at USD1660. Upside is at 1728.
· Shanghai closed lower at 2,252.
· Singapore STI closed lower at 2,994.
· Ringgit is weaker at 3.068. Downside is at 3.110.
· S’pore ringgit is higher at 2.440. Resistance is at 2.440.
· Malaysian market closed higher at 1585. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 60, has stabilised. Today’s range is between 1582 and 1589.
· CPO May futures is lower at RM3477. Resistance is at 3630.
· Trading : BINTAI ( 6998 : 0.38 ) : Targeting 0.48, NICORP ( 4464 : 0.48 ) : Targeting 0.58, KBB ( 7182 : 0.58 ) : Targeting 0.63, SMARTAG ( 0169 : 0.225 ) : Targeting 0.28
Source:Jupiter Securities Research 30 March 2012
SUMMARY
· Wall St closed 0.1% higher. Weekly initial jobless claims dipped to 359,000. Overall, markets appear to drift cautiously, ahead of the first quarter results season next month. Consensus opinions call for a dip in corporate earnings, and this may be the catalyst for a correction in the 2Q’2012.
· Dow of 13,145, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 56, is neutral. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is lower at 79.0. Downside is at 78.6.
· Crude oil is lower at USD102.8. Support is at 101.0.
· Dollar yen is lower at 82.2 yen. Support is at 80.5.
· Euro/dollar is higher at 1.332. Upside is at 1.347.
· Gold is lower at USD1660. Upside is at 1728.
· Shanghai closed lower at 2,252.
· Singapore STI closed lower at 2,994.
· Ringgit is weaker at 3.068. Downside is at 3.110.
· S’pore ringgit is higher at 2.440. Resistance is at 2.440.
· Malaysian market closed higher at 1585. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 60, has stabilised. Today’s range is between 1582 and 1589.
· CPO May futures is lower at RM3477. Resistance is at 3630.
· Trading : BINTAI ( 6998 : 0.38 ) : Targeting 0.48, NICORP ( 4464 : 0.48 ) : Targeting 0.58, KBB ( 7182 : 0.58 ) : Targeting 0.63, SMARTAG ( 0169 : 0.225 ) : Targeting 0.28
Source:Jupiter Securities Research 30 March 2012
Morning Coffee - 30 Mar 2012
MO R N I N G C O F F E E - Friday March 30, 2012
U.S. and European market roundup
The Dow managed a slim gain on Thursday while the S&P 500 and the Nasdaq shook off most of their earlier losses to end slightly lower, as investors took advantage of a selloff to buy blue chips that have been rallying throughout the quarter. New US jobless claims fell to a 4-year low last week but fell short of forecasts and the previous week’s figures were revisedhigher. (Reuters)
European stocks fell the most in more than 3 weeks as S&P’s said Greece may have to restructure its debt again and more Americans than forecast filed claims for jobless benefits. Meanwhile, the IMF mission chief to Greece, Poul Thomsen, said while Greece has made an aggressive fiscal adjustment, it will take at least a decade to fully compete the country’srestructuring. (Bloomberg)
Macro News
NA
Corporate News
Malayan Banking Bhd (Maybank), clarified that its exposure to the US$600m (RM1.84b) unsecured funding facilities to Vietnam Shipbuilding Industry Group (Vinashin) is minimal compare to group total asset as at December 31, 2011, stood at RM451.3b. Vinashin defaulted debt facility resurfaced after nine former executive of the state-owned shipbuilder were charged with mismanagement of asset on Tuesday. Credit Suisse Group AG was the lead arranger of the facility, while Maybank linked as arranger, participant and part of steering committee in 2010 on Vinashin debt problems. (StarBiz)
Bursa Malaysia Bhd plans to launch an exchange traded bond for retail investors in the second half of this year. Chief executive officer Datuk Tajuddin Atan said the retail bond would allow investors to switch from equity to a debt indstrument that has exposure to interest rates. Investors could buy the retail bond from brokers just as they do with equities. The exchange is also looking at introducing futures and option products. By June, the first roll-out of the Asean Exchanges will see the launch of Asean link between Singapore Exchange and Bursa Malaysia, followed by the Stock Exchange of Thailand in August. (Business Times)
CIMB Group Holdings Bhd’s wholly-owned subsidiary, CIMB Strategic Assets Sdn Bhd, and the Rohatyn Group have formed a joint venture to jointly manage CapAsia Funds and undertake private equity investments in the infrastructure fund. CIMB said CIMB Strategic and the Rohatyn would hold 40% and 60% respectively in Capital Advisors Partners Asia Sdn Bhd (CapAsia), CapAsia Islamic Infrastructure Fund (General Partner) Ltd and CapAsia Asean Infrastructure Fund III (General Partner) Ltd. CapAsia was set up in 2006 as a 60:40 joint venture between CIMB Group and the Standard Bank Group to jointly sponsor, manage and administer the South-East Asian Strategic Assets Fund Ltd Partnership (SEASAF). In May 2011, CapAsia became a wholly-owned subsidiary of CIMB Strategic Assets. CapAsia, together with its wholly-owned subsidiary Capital Advisors Partners Asia Pte Ltd currently manages three funds – SEASAF, the Islamic Infrastructure Fund Limited Partnership and the Asia Infrastructure Fund Limited Partnership, with collective asset under management of approximately US$500m. (StarBiz)
Gamuda Bhd and its partner MMC Corp Bhd are targeting a 12% profit margin from the RM8.2b contract to build a network of underground rail and commuter stations below Kuala Lumpur city centre. Construction work on the underground stations along the Sungai Buloh-Kajang (SBK) line for the Klang Valley mass rapid transit (MRT) system will start in the third quarter. The actual tunnel digging work, however, will only begin in March next year after the first of 10-tunnel boring machines (TBM) ordered from Germany arrive. The underground work will take about five years to complete. (The Sun Daily)
Sime Darby Property Bhd is on track to achieve a gross sales value (GSV) of RM2.4b in the current FYE June 2012, said managing director Datuk Wahab Maskan. The value would be mainly contributed by some 23 property projects under its Lifestyle Collection umbrella. He said the property arm expects its profit to be sustained at between RM400-500m for FYE 2012 and is looking to maintain the profit contribution at about 10-15%. The property developer is keen on increasing its landbank, with the focus on countries like England, Singapore and Australia. (The Edge Daily)
Astro All Asia Networks Plc has been approached by investment bankers about a possible share sale, though substantive discussions have yet to begin, said a company official. Ananda Krishnan is considering an initial public offering to raise about USD1.5b (RM4.6b) by as soon as the end of this year. (Business Times)
Pestech International Bhd, an integrated electric power technology company, has received approval from
Securities Commission to list on the Main Market of Bursa Malaysia. Tenaga Nasional Berhad is a major customer since 2000, contributing about 36% to the total group revenues in 2010. The group foreign business contributed 51.4% of total revenue. They have ongoing project in designing, building, testing and commissioning of substation in North Phnom Penh and Kampong Cham in Cambodia, as well as the 110km 230kV transmission link between both areas. (StarBiz)
SEG International Bhd (SEGi) saw a total of 209.6m shares changed hands in off-markets deals yesterday at RM1.71 per share, representing 37.5% of company’s share based. Reliable sources said that one block of 114.8m shares crossed belonged to Cerahsar Sdn Bhd., the second largest-shareholder with a 20.53% direct stake according to Bloomberg data. It is Unclear who the buyers of the blocks of share, industry player are speculating that it could be an institutional fund from the Middle East. SEGi founder and Group MD Datuk Seri Clement Hii Chii Koh, largest stake at 28.11%. (StarBiz)
Matthews International Capital Management LLC has ceased to be a substantial shareholder of Top Glove Corporation Bhd after it disposed 1.5m shares on Wednesday. The US fund manager disposed of the shares in the open market, reducing its shareholding below the 5% level to be a substantial shareholder. (The Edge Daily)
Source:Jupiter Securities Research 30 March 2012
U.S. and European market roundup
The Dow managed a slim gain on Thursday while the S&P 500 and the Nasdaq shook off most of their earlier losses to end slightly lower, as investors took advantage of a selloff to buy blue chips that have been rallying throughout the quarter. New US jobless claims fell to a 4-year low last week but fell short of forecasts and the previous week’s figures were revisedhigher. (Reuters)
European stocks fell the most in more than 3 weeks as S&P’s said Greece may have to restructure its debt again and more Americans than forecast filed claims for jobless benefits. Meanwhile, the IMF mission chief to Greece, Poul Thomsen, said while Greece has made an aggressive fiscal adjustment, it will take at least a decade to fully compete the country’srestructuring. (Bloomberg)
Macro News
NA
Corporate News
Malayan Banking Bhd (Maybank), clarified that its exposure to the US$600m (RM1.84b) unsecured funding facilities to Vietnam Shipbuilding Industry Group (Vinashin) is minimal compare to group total asset as at December 31, 2011, stood at RM451.3b. Vinashin defaulted debt facility resurfaced after nine former executive of the state-owned shipbuilder were charged with mismanagement of asset on Tuesday. Credit Suisse Group AG was the lead arranger of the facility, while Maybank linked as arranger, participant and part of steering committee in 2010 on Vinashin debt problems. (StarBiz)
Bursa Malaysia Bhd plans to launch an exchange traded bond for retail investors in the second half of this year. Chief executive officer Datuk Tajuddin Atan said the retail bond would allow investors to switch from equity to a debt indstrument that has exposure to interest rates. Investors could buy the retail bond from brokers just as they do with equities. The exchange is also looking at introducing futures and option products. By June, the first roll-out of the Asean Exchanges will see the launch of Asean link between Singapore Exchange and Bursa Malaysia, followed by the Stock Exchange of Thailand in August. (Business Times)
CIMB Group Holdings Bhd’s wholly-owned subsidiary, CIMB Strategic Assets Sdn Bhd, and the Rohatyn Group have formed a joint venture to jointly manage CapAsia Funds and undertake private equity investments in the infrastructure fund. CIMB said CIMB Strategic and the Rohatyn would hold 40% and 60% respectively in Capital Advisors Partners Asia Sdn Bhd (CapAsia), CapAsia Islamic Infrastructure Fund (General Partner) Ltd and CapAsia Asean Infrastructure Fund III (General Partner) Ltd. CapAsia was set up in 2006 as a 60:40 joint venture between CIMB Group and the Standard Bank Group to jointly sponsor, manage and administer the South-East Asian Strategic Assets Fund Ltd Partnership (SEASAF). In May 2011, CapAsia became a wholly-owned subsidiary of CIMB Strategic Assets. CapAsia, together with its wholly-owned subsidiary Capital Advisors Partners Asia Pte Ltd currently manages three funds – SEASAF, the Islamic Infrastructure Fund Limited Partnership and the Asia Infrastructure Fund Limited Partnership, with collective asset under management of approximately US$500m. (StarBiz)
Gamuda Bhd and its partner MMC Corp Bhd are targeting a 12% profit margin from the RM8.2b contract to build a network of underground rail and commuter stations below Kuala Lumpur city centre. Construction work on the underground stations along the Sungai Buloh-Kajang (SBK) line for the Klang Valley mass rapid transit (MRT) system will start in the third quarter. The actual tunnel digging work, however, will only begin in March next year after the first of 10-tunnel boring machines (TBM) ordered from Germany arrive. The underground work will take about five years to complete. (The Sun Daily)
Sime Darby Property Bhd is on track to achieve a gross sales value (GSV) of RM2.4b in the current FYE June 2012, said managing director Datuk Wahab Maskan. The value would be mainly contributed by some 23 property projects under its Lifestyle Collection umbrella. He said the property arm expects its profit to be sustained at between RM400-500m for FYE 2012 and is looking to maintain the profit contribution at about 10-15%. The property developer is keen on increasing its landbank, with the focus on countries like England, Singapore and Australia. (The Edge Daily)
Astro All Asia Networks Plc has been approached by investment bankers about a possible share sale, though substantive discussions have yet to begin, said a company official. Ananda Krishnan is considering an initial public offering to raise about USD1.5b (RM4.6b) by as soon as the end of this year. (Business Times)
Pestech International Bhd, an integrated electric power technology company, has received approval from
Securities Commission to list on the Main Market of Bursa Malaysia. Tenaga Nasional Berhad is a major customer since 2000, contributing about 36% to the total group revenues in 2010. The group foreign business contributed 51.4% of total revenue. They have ongoing project in designing, building, testing and commissioning of substation in North Phnom Penh and Kampong Cham in Cambodia, as well as the 110km 230kV transmission link between both areas. (StarBiz)
SEG International Bhd (SEGi) saw a total of 209.6m shares changed hands in off-markets deals yesterday at RM1.71 per share, representing 37.5% of company’s share based. Reliable sources said that one block of 114.8m shares crossed belonged to Cerahsar Sdn Bhd., the second largest-shareholder with a 20.53% direct stake according to Bloomberg data. It is Unclear who the buyers of the blocks of share, industry player are speculating that it could be an institutional fund from the Middle East. SEGi founder and Group MD Datuk Seri Clement Hii Chii Koh, largest stake at 28.11%. (StarBiz)
Matthews International Capital Management LLC has ceased to be a substantial shareholder of Top Glove Corporation Bhd after it disposed 1.5m shares on Wednesday. The US fund manager disposed of the shares in the open market, reducing its shareholding below the 5% level to be a substantial shareholder. (The Edge Daily)
Source:Jupiter Securities Research 30 March 2012
Wednesday 28 March 2012
Stock Overview - POHKONG - 29 Mar 2012
POHKONG ( 5080 : 0.56 ) : Support 0.54
Description
Resistance : 0.62 0.70
Support : 0.54
RSI of 54
RSI is neutral
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
Currently it is hovering at a key support line of 0.54. With oversold technicals, it is likely to move higher to 0.62
Trading Strategy
Buy. Stop loss is at 0.535
Source:Jupiter Securities Research 29 March 2012
Description
Resistance : 0.62 0.70
Support : 0.54
RSI of 54
RSI is neutral
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
Currently it is hovering at a key support line of 0.54. With oversold technicals, it is likely to move higher to 0.62
Trading Strategy
Buy. Stop loss is at 0.535
Source:Jupiter Securities Research 29 March 2012
Stock Overview - LANDMARK - 29 Mar 2012
LANDMARK ( 1643 : 1.00 ) : Bottoming
Description
Property
Resistance : 1.15-1.17
Support : 0.98
RSI of 30
RSI is oversold
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The recent correction from 1.25, may have ended at a good support level of 0.98. With oversold technicals, it due for a technical rebound to 1.15-1.17
Trading Strategy
Buy. Stop loss is at 0.90
Source:Jupiter Securities Research 29 March 2012
Description
Property
Resistance : 1.15-1.17
Support : 0.98
RSI of 30
RSI is oversold
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The recent correction from 1.25, may have ended at a good support level of 0.98. With oversold technicals, it due for a technical rebound to 1.15-1.17
Trading Strategy
Buy. Stop loss is at 0.90
Source:Jupiter Securities Research 29 March 2012
Stock Overview - HWATAI - 29 Mar 2012
HWATAI ( 8478 : 0.515 ) : Double bottom
Description
Biscuits
Resistance : 0.62
Support : 0.49
RSI of 46
RSI has stabilised
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The recent correction has ended at the Double bottom of 0.505. With oversold technicals, it due for a technical rebound to 0.62
Trading Strategy
Buy. Stop loss is at 0.49
Source:Jupiter Securities Research 29 March 2012
Description
Biscuits
Resistance : 0.62
Support : 0.49
RSI of 46
RSI has stabilised
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The recent correction has ended at the Double bottom of 0.505. With oversold technicals, it due for a technical rebound to 0.62
Trading Strategy
Buy. Stop loss is at 0.49
Source:Jupiter Securities Research 29 March 2012
Stock Overview - BIMB - 29 Mar 2012
BIMB ( 5258 : 2.32 ) : Take profit
Description
Resistance : 2.40
Support : 2.04 2.20
RSI of 65
RSI is slightly positive
STOCHASTIC
It is slightly positive
TREND INDICATOR
Comment
Currently, it is capped at the Double Top of 2.40. And following the recent run up, upside is limited
Trading Strategy
Take profit. Limited upside
Source:Jupiter Securities Research 29 March 2012
Description
Resistance : 2.40
Support : 2.04 2.20
RSI of 65
RSI is slightly positive
STOCHASTIC
It is slightly positive
TREND INDICATOR
Comment
Currently, it is capped at the Double Top of 2.40. And following the recent run up, upside is limited
Trading Strategy
Take profit. Limited upside
Source:Jupiter Securities Research 29 March 2012
Daily Summary - 29 Mar 2012
YOUR MORNING COFFEE – Thursday 29/3/2012
SUMMARY
· Wall St closed 0.5% lower, following the less than expected durable goods orders, up 2.2% against 2.8% expectation. Meanwhile, average gas price has topped USD3.90/gallon.
· Dow of 13,126, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 55, is neutral. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is unchanged at 79.1. Downside is at 78.6.
· Crude oil is lower at USD105.4. Support is at 103.0.
· Dollar yen is lower at 82.8 yen. Support is at 81.9.
· Euro/dollar is lower at 1.331. Upside is at 1.347.
· Gold is lower at USD1681. Upside is at 1728.
· Shanghai closed lower at 2,284.
· Singapore STI closed lower at 3,009.
· Ringgit is weaker at 3.064. Downside is at 3.110.
· S’pore ringgit is higher at 2.438. Resistance is at 2.440.
· Malaysian market closed lower at 1583. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 58, is down. Today’s range is between 1577 and 1587.
· CPO May futures is lower at RM3482. Resistance is at 3630.
· Trading : LANDMARK ( 1643 : 1.00 ) : Bottoming, HWATAI ( 8478 : 0.515 ) : Double bottom, POHKONG ( 5080 : 0.56 ) : Support 0.54, BIMB ( 5258 : 2.32 ) : Take profit
Source:Jupiter Securities Research 29 March 2012
SUMMARY
· Wall St closed 0.5% lower, following the less than expected durable goods orders, up 2.2% against 2.8% expectation. Meanwhile, average gas price has topped USD3.90/gallon.
· Dow of 13,126, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 55, is neutral. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is unchanged at 79.1. Downside is at 78.6.
· Crude oil is lower at USD105.4. Support is at 103.0.
· Dollar yen is lower at 82.8 yen. Support is at 81.9.
· Euro/dollar is lower at 1.331. Upside is at 1.347.
· Gold is lower at USD1681. Upside is at 1728.
· Shanghai closed lower at 2,284.
· Singapore STI closed lower at 3,009.
· Ringgit is weaker at 3.064. Downside is at 3.110.
· S’pore ringgit is higher at 2.438. Resistance is at 2.440.
· Malaysian market closed lower at 1583. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 58, is down. Today’s range is between 1577 and 1587.
· CPO May futures is lower at RM3482. Resistance is at 3630.
· Trading : LANDMARK ( 1643 : 1.00 ) : Bottoming, HWATAI ( 8478 : 0.515 ) : Double bottom, POHKONG ( 5080 : 0.56 ) : Support 0.54, BIMB ( 5258 : 2.32 ) : Take profit
Source:Jupiter Securities Research 29 March 2012
Tuesday 27 March 2012
Stock Overview - WTK - 28 Mar 2012
WTK ( 4243 : 1.49 ) : Consolidation breakout
Description
Timber
Resistance : 1.75
Support : 1.40
RSI of 70
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading for the 61.8% retracement of 1.75
Trading Strategy
Buy. Stop loss is at 1.40
Source:Jupiter Securities Research 28 March 2012
Description
Timber
Resistance : 1.75
Support : 1.40
RSI of 70
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading for the 61.8% retracement of 1.75
Trading Strategy
Buy. Stop loss is at 1.40
Source:Jupiter Securities Research 28 March 2012
Stock Overview - UNISEM - 28 Mar 2012
UNISEM ( 5005 : 1.48 ) : Stop loss 1.36
Description
Resistance : 1.85
Support : 1.36
RSI of 68
RSI is rising
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current recovery is heading for 1.85. A stop loss should be placed at 1.36
Trading Strategy
Buy. Stop loss is at 1.36
Description
Resistance : 1.85
Support : 1.36
RSI of 68
RSI is rising
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current recovery is heading for 1.85. A stop loss should be placed at 1.36
Trading Strategy
Buy. Stop loss is at 1.36
Stock Overview - MAYBANK - 28 Mar 2012
MAYBANK ( 1155 : 8.85 ) : Targeting 9.58
Description
Resistance : 9.10 9.58
Support : 8.72
RSI of 66
RSI is rising
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current up trend is heading for 9.58. A tight stop loss should be placed at 8.72
Trading Strategy
Buy. Stop loss is at 8.72
Source:Jupiter Securities Research 28 March 2012
Description
Resistance : 9.10 9.58
Support : 8.72
RSI of 66
RSI is rising
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current up trend is heading for 9.58. A tight stop loss should be placed at 8.72
Trading Strategy
Buy. Stop loss is at 8.72
Source:Jupiter Securities Research 28 March 2012
Stock Overview - CENSOF - 28 Mar 2012
CENSOF ( 5195 : 0.415 ) : Oversold
Description
Application software
Resistance : 0.50
Support : 0.38 0.40
RSI of 32
RSI is on a buy divergence
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The recent correction from 0.56, has ended at 0.41, which is close to the 61.8% retracement support of 0.40. A technical rebound to 0.50 is likely
Trading Strategy
Buy. Stop loss is at 0.38
Source:Jupiter Securities Research 28 March 2012
Description
Application software
Resistance : 0.50
Support : 0.38 0.40
RSI of 32
RSI is on a buy divergence
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The recent correction from 0.56, has ended at 0.41, which is close to the 61.8% retracement support of 0.40. A technical rebound to 0.50 is likely
Trading Strategy
Buy. Stop loss is at 0.38
Source:Jupiter Securities Research 28 March 2012
Daily Summary - 28 Mar 2012
YOUR MORNING COFFEE – Wednesday 28/3/2012
SUMMARY
· Wall St closed 0.3% lower, as housing and consumer confidence dragged. S&P/Case-Shiller home prices at the lowest level since 2002. Consumer confidence index dipped to 70.2.
· Dow of 13,197, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 60, has turned up. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is higher at 79.1. Downside is at 78.6.
· Crude oil is higher at USD107.3. Support is at 103.0.
· Dollar yen is higher at 83.1 yen. Support is at 81.9.
· Euro/dollar is lower at 1.331. Upside is at 1.347.
· Gold is lower at USD1681. Upside is at 1728.
· Shanghai closed lower at 2,347.
· Singapore STI closed higher at 3,014.
· Ringgit is weaker at 3.067. Downside is at 3.110.
· S’pore ringgit is higher at 2.438. Resistance is at 2.440.
· Malaysian market closed higher at 1588. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 63, is up. Today’s range is between 1584 and 1594.
· CPO May futures is higher at RM3492. Resistance is at 3630.
· Trading : CENSOF ( 5195 : 0.415 ) : Oversold, WTK ( 4243 : 1.49 ) : Consolidation breakout, MAYBANK ( 1155 : 8.85 ) : Targeting 9.58, UNISEM ( 5005 : 1.48 ) : Stop loss 1.36
Source:Jupiter Securities Research 28 March 2012
SUMMARY
· Wall St closed 0.3% lower, as housing and consumer confidence dragged. S&P/Case-Shiller home prices at the lowest level since 2002. Consumer confidence index dipped to 70.2.
· Dow of 13,197, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 60, has turned up. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is higher at 79.1. Downside is at 78.6.
· Crude oil is higher at USD107.3. Support is at 103.0.
· Dollar yen is higher at 83.1 yen. Support is at 81.9.
· Euro/dollar is lower at 1.331. Upside is at 1.347.
· Gold is lower at USD1681. Upside is at 1728.
· Shanghai closed lower at 2,347.
· Singapore STI closed higher at 3,014.
· Ringgit is weaker at 3.067. Downside is at 3.110.
· S’pore ringgit is higher at 2.438. Resistance is at 2.440.
· Malaysian market closed higher at 1588. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 63, is up. Today’s range is between 1584 and 1594.
· CPO May futures is higher at RM3492. Resistance is at 3630.
· Trading : CENSOF ( 5195 : 0.415 ) : Oversold, WTK ( 4243 : 1.49 ) : Consolidation breakout, MAYBANK ( 1155 : 8.85 ) : Targeting 9.58, UNISEM ( 5005 : 1.48 ) : Stop loss 1.36
Source:Jupiter Securities Research 28 March 2012
Monday 26 March 2012
Stock Overview -SILKHLD - 27 Mac 2012
SILKHLD ( 5078 : 0.415 ) : Technical rebound
Description
Toll highway
Resistance : 0.48 0.50
Support : 0.40
RSI of 52
RSI is neutral
STOCHASTIC
It is on an early upturn
TREND INDICATOR
Comment
The recent sell down from 0.53 may have ended at 0.41, as technicals approach oversold. A technical rebound should target 0.48-0.50. Stop loss is at 0.40
Trading Strategy
Buy. Stop loss is at 0.40
Description
Toll highway
Resistance : 0.48 0.50
Support : 0.40
RSI of 52
RSI is neutral
STOCHASTIC
It is on an early upturn
TREND INDICATOR
Comment
The recent sell down from 0.53 may have ended at 0.41, as technicals approach oversold. A technical rebound should target 0.48-0.50. Stop loss is at 0.40
Trading Strategy
Buy. Stop loss is at 0.40
Stock Overview -AIRASIA - 27 Mac 2012
AIRASIA ( 5099 : 3.48 ) : Limited downside
Description
Resistance : 4.75
Support : 3.28 3.34
RSI of 31
RSI is oversold
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The current broadening Triangle is on a limited downside, with a good support of 3.45. This stock is worth considering for accumulation, with an upside target of 4.75. Stop loss is at 3.28
Trading Strategy
Buy. Stop loss is at 3.28
Description
Resistance : 4.75
Support : 3.28 3.34
RSI of 31
RSI is oversold
STOCHASTIC
It is oversold
TREND INDICATOR
Comment
The current broadening Triangle is on a limited downside, with a good support of 3.45. This stock is worth considering for accumulation, with an upside target of 4.75. Stop loss is at 3.28
Trading Strategy
Buy. Stop loss is at 3.28
Stock Overview -PTGTIN- 27 Mac 2012
PTGTIN ( 2208 : 0.325 ) : Consolidation breakout
Description
Property
Resistance : 0.42
Support : 0.31
RSI of 56
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
Following the consolidation breakout yesterday, it is heading for 0.42. A tight stop loss should be placed at 0.305
Trading Strategy
Buy. Stop loss is at 0.305
Source:Jupiter Securities Research 27 March 2012
Description
Property
Resistance : 0.42
Support : 0.31
RSI of 56
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
Following the consolidation breakout yesterday, it is heading for 0.42. A tight stop loss should be placed at 0.305
Trading Strategy
Buy. Stop loss is at 0.305
Source:Jupiter Securities Research 27 March 2012
Stock Overview - BTECH- 27 Mac 2012
BTECH ( 0011 : 0.155 ) : Consolidation breakout
Description
Pollution control equipments
Resistance : 0.20 0.24
Support : 0.14
RSI of 61
RSI is rising
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to 0.20. Stop loss should be placed at 0.14
Trading Strategy
Buy. Stop loss is at 0.14
Source:Jupiter Securities Research 27 March 2012
Description
Pollution control equipments
Resistance : 0.20 0.24
Support : 0.14
RSI of 61
RSI is rising
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to 0.20. Stop loss should be placed at 0.14
Trading Strategy
Buy. Stop loss is at 0.14
Source:Jupiter Securities Research 27 March 2012
Daily Summary - 27 Mac 2012
YOUR MORNING COFFEE – Tuesday 27/3/2012
SUMMARY
Wall St closed 1.2% higher, as US Fed hinted on low interest rates prevailing, on comment of sustaining employment.
- Dow of 13,241, has completed its small pullback at 13,002, indicating a resumption of upmove. The all time high is at 14,198. RSI of 63, has turned up. Caution is on the key support 12,860, which will be negative if breached.
- Dollar Index is lower at 78.9. Downside is at 78.6.
- Crude oil is higher at USD107.0. Support is at 103.0.
- Dollar yen is higher at 82.8 yen. Support is at 81.9.
- Euro/dollar is higher at 1.335. Upside is at 1.347.
- Gold is higher at USD1685. Upside is at 1728.
- Shanghai closed higher at 2,350.
- Singapore STI closed lower at 2,982.
- Ringgit is firmer at 3.066. Downside is at 3.110.
- S’pore ringgit is higher at 2.440. Resistance is at 2.440.
- Malaysian market closed lower at 1582. On the Daily chart, the upside of 1609 remains intact, with support at 1573. RSI of 60, is down. Stochastic is on a small pullback. Today’s range is between 1578 and 1588.
- CPO May futures is higher at RM3468. Resistance is at 3630.
- Trading : PTGTIN ( 2208 : 0.325 ) : Consolidation breakout, AIRASIA ( 5099 : 3.46 ) : Limited downside, BTECH ( 0011 : 0.155 ) : Consolidation breakout, SILKHLD ( 5078 : 0.415 ) : Technical rebound
Sunday 25 March 2012
Stock Overview - SAAG - 26 Mar 2012
SAAG ( 9652 : 0.075 ) : Stop loss 0.065
Description
Oil and gas services
Resistance : 0.11
Support : 0.065
RSI of 61
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is riding on an up cycle
TREND INDICATOR
Comment
While it is hovering at a key support of 0.065, it is due for a technical rebound to 0.11. A tight stop loss
should be placed at 0.065
Trading Strategy
Buy. Stop loss is at 0.065
Source:Jupiter Securities Research 26 March 2012
Description
Oil and gas services
Resistance : 0.11
Support : 0.065
RSI of 61
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is riding on an up cycle
TREND INDICATOR
Comment
While it is hovering at a key support of 0.065, it is due for a technical rebound to 0.11. A tight stop loss
should be placed at 0.065
Trading Strategy
Buy. Stop loss is at 0.065
Source:Jupiter Securities Research 26 March 2012
Stock Overview - HWGB - 26 Mar 2012
HWGB ( 9601 : 0.405 ) : Stop loss 0.39
Description
Resistance : 0.46
Support : 0.395
RSI of 50
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
While it is hovering at a key support of 0.395, it is due for a technical rebound to 0.46 on the overall oversold technicals. A tight stop loss should be placed at 0.39
Trading Strategy
Buy. Stop loss is at 0.39
Source:Jupiter Securities Research 26 March 2012
Description
Resistance : 0.46
Support : 0.395
RSI of 50
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
While it is hovering at a key support of 0.395, it is due for a technical rebound to 0.46 on the overall oversold technicals. A tight stop loss should be placed at 0.39
Trading Strategy
Buy. Stop loss is at 0.39
Source:Jupiter Securities Research 26 March 2012
Stock Overview - LEESK - 26 Mar 2012
LEESK ( 8079 : 0.175 ) : Stop loss 0.15
Description
Mattress and polyurethane foam
Resistance : 0.21 0.25
Support : 0.15
RSI of 58
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
It is due for a technical rebound to 0.21 on the overall oversold technicals. A tight stop loss should be placed at 0.15
Trading Strategy
Buy. Stop loss is at 0.15
Source:Jupiter Securities Research 26 March 2012
Description
Mattress and polyurethane foam
Resistance : 0.21 0.25
Support : 0.15
RSI of 58
RSI is neutral, and appears to have stabilised
STOCHASTIC
It is oversold, and recovering
TREND INDICATOR
Comment
It is due for a technical rebound to 0.21 on the overall oversold technicals. A tight stop loss should be placed at 0.15
Trading Strategy
Buy. Stop loss is at 0.15
Source:Jupiter Securities Research 26 March 2012
Stock Overview - AT - 26 Mar 2012
AT ( 0072 : 0.30 ) : Profit taking
Description
Manufacture automation equipments
Resistance : 0.315 0.35
Support : 0.24
RSI of 81
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
It hit a resistance at 0.315 Friday, and eased off its high due to profit taking as reflected by the high volume. The 61.8% retracement is at 0.24
Trading Strategy
Take profit
Source:Jupiter Securities Research 26 March 2012
Description
Manufacture automation equipments
Resistance : 0.315 0.35
Support : 0.24
RSI of 81
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
It hit a resistance at 0.315 Friday, and eased off its high due to profit taking as reflected by the high volume. The 61.8% retracement is at 0.24
Trading Strategy
Take profit
Source:Jupiter Securities Research 26 March 2012
Daily Summary - 26 Mar 2012
YOUR MORNING COFFEE – Monday 26/3/2012
SUMMARY
· Wall St closed 0.3% higher, lifted by commodities. Oil rose ahead of expectation of a cut in export from Iran. US new home sales of 313,000 annual rate, came in below expectation.
· Dow of 13,080, is capped at 13,270, indicating a small pullback. RSI of 55, has turned down. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is lower at 79.3. Downside is at 78.6.
· Crude oil is higher at USD106.8. Support is at 103.0.
· Dollar yen is lower at 82.4 yen. Support is at 81.9.
· Euro/dollar is higher at 1.326. Upside is at 1.347.
· Gold is higher at USD1662. Upside is at 1728.
· Shanghai closed lower at 2,349.
· Singapore STI closed higher at 2,992.
· Ringgit is firmer at 3.065. Downside is at 3.110.
· S’pore ringgit is higher at 2.440. Resistance is at 2.440
· Malaysian market closed higher at 1585. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 62, is up. Today’s range is between 1580 and 1590.
· CPO May futures is higher at RM3417. Support is at 3300.
· Trading : HWGB ( 9601 : 0.405 ) : Stop loss 0.39, SAAG ( 9652 : 0.075 ) : Stop loss 0.065, AT ( 0072 : 0.30 ) : Profit taking, LEESK ( 8079 : 0.18 ) : Stop loss 0.15
Brought to you by Jupiter Securities Research 26 March 2012
SUMMARY
· Wall St closed 0.3% higher, lifted by commodities. Oil rose ahead of expectation of a cut in export from Iran. US new home sales of 313,000 annual rate, came in below expectation.
· Dow of 13,080, is capped at 13,270, indicating a small pullback. RSI of 55, has turned down. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is lower at 79.3. Downside is at 78.6.
· Crude oil is higher at USD106.8. Support is at 103.0.
· Dollar yen is lower at 82.4 yen. Support is at 81.9.
· Euro/dollar is higher at 1.326. Upside is at 1.347.
· Gold is higher at USD1662. Upside is at 1728.
· Shanghai closed lower at 2,349.
· Singapore STI closed higher at 2,992.
· Ringgit is firmer at 3.065. Downside is at 3.110.
· S’pore ringgit is higher at 2.440. Resistance is at 2.440
· Malaysian market closed higher at 1585. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 62, is up. Today’s range is between 1580 and 1590.
· CPO May futures is higher at RM3417. Support is at 3300.
· Trading : HWGB ( 9601 : 0.405 ) : Stop loss 0.39, SAAG ( 9652 : 0.075 ) : Stop loss 0.065, AT ( 0072 : 0.30 ) : Profit taking, LEESK ( 8079 : 0.18 ) : Stop loss 0.15
Brought to you by Jupiter Securities Research 26 March 2012
Briefing Note - Chin Well - 23 Mar 2012
Briefing Note: CHIN WELL HOLDINGS BERHAD, Friday, March 23, 2012 R M 1 . 3 5
Highlights:
Lower 3Q Performance is expected Chin Well posted a decent 2QFY12 results, boosted by higher selling prices despite lower sales tonnage, improved efficiency in Vietnam operation and better gross margins from certain Europe orders. However, the group is expecting a lower performance in its 3QFY12 on softer orders from certain European countries, particularly Italy, Spain and France and part of the customers within the aforementioned countries requested for delay in deliveries. Despite slowdown in orders from some European countries, orders from Germany, its largest customers which accounted for about 22-25% of its total sales, remained solid. In addition, orders from the Netherlands and England are showing sustainable trend due to government-initiated infrastructure and housing projects.
US imposed anti-dumping rules on China-made wire product The United State has imposed anti-dumping duties on wire products imported from China. In late October 2011, the US’s Department of Commerce announced its determination to impose anti-dumping duty on imports of steel wire from China. It was reported that Chinese producers/exporters have sold galvanized wire in the US at margins ranging from 76% to 235%. 16 exporters qualified for a separate dumping rate of 127% while other Chinese exporters received a preliminary dumping rate of 235%. Chin Well has benefited from the new anti-dumping rule. Its wire products segment has received orders from US starting from February, resulted a jump in production from 3,000T per month previously to 5,000T currently. The business is a relatively low margin business but we view this move positively as it does not require further investment on fixed assets, any increase in topline would allow the company to reap higher bottomline.
Valuation remained unchanged We continue to favor Chin Well as it is one of the eight companies in Malaysia that are being exempted from the anti-dumping duties imposed by EU. We have tweaked our forecast on the company but maintaining our BUY recommendation on Chin Well with a fair value of RM2.00.
Highlights:
Lower 3Q Performance is expected Chin Well posted a decent 2QFY12 results, boosted by higher selling prices despite lower sales tonnage, improved efficiency in Vietnam operation and better gross margins from certain Europe orders. However, the group is expecting a lower performance in its 3QFY12 on softer orders from certain European countries, particularly Italy, Spain and France and part of the customers within the aforementioned countries requested for delay in deliveries. Despite slowdown in orders from some European countries, orders from Germany, its largest customers which accounted for about 22-25% of its total sales, remained solid. In addition, orders from the Netherlands and England are showing sustainable trend due to government-initiated infrastructure and housing projects.
US imposed anti-dumping rules on China-made wire product The United State has imposed anti-dumping duties on wire products imported from China. In late October 2011, the US’s Department of Commerce announced its determination to impose anti-dumping duty on imports of steel wire from China. It was reported that Chinese producers/exporters have sold galvanized wire in the US at margins ranging from 76% to 235%. 16 exporters qualified for a separate dumping rate of 127% while other Chinese exporters received a preliminary dumping rate of 235%. Chin Well has benefited from the new anti-dumping rule. Its wire products segment has received orders from US starting from February, resulted a jump in production from 3,000T per month previously to 5,000T currently. The business is a relatively low margin business but we view this move positively as it does not require further investment on fixed assets, any increase in topline would allow the company to reap higher bottomline.
Valuation remained unchanged We continue to favor Chin Well as it is one of the eight companies in Malaysia that are being exempted from the anti-dumping duties imposed by EU. We have tweaked our forecast on the company but maintaining our BUY recommendation on Chin Well with a fair value of RM2.00.
Thursday 22 March 2012
Stock Overview - PERISAI - 23 Mar 2012
PERISAI ( 0047 : 0.89 ) : Targeting 0.95-1.00
Description
Resistance : 0.95 1.00
Support : 0.88
RSI of 48
RSI is neutral
STOCHASTIC
It has just started to rebound from its oversold level
TREND INDICATOR
Comment
While it is hovering at a key support of 0.88, it is expected to recover to 0.95
Trading Strategy
Buy. Stop loss is at 0.88
Source: Jupiter Securities Research 23 March 2012
Description
Resistance : 0.95 1.00
Support : 0.88
RSI of 48
RSI is neutral
STOCHASTIC
It has just started to rebound from its oversold level
TREND INDICATOR
Comment
While it is hovering at a key support of 0.88, it is expected to recover to 0.95
Trading Strategy
Buy. Stop loss is at 0.88
Source: Jupiter Securities Research 23 March 2012
Stock Overview - MHC - 23 Mar 2012
MHC ( 5026 : 1.77 ) : Take profit
Description
Resistance : 1.85
Support : 1.56
RSI of 85
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
The recent strong upward push is nearing its end, as the upside is limited, due to a strong resistance around 1.85
Trading Strategy
Take profit. Limited upside
Source: Jupiter Securities Research 23 March 2012
Description
Resistance : 1.85
Support : 1.56
RSI of 85
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
The recent strong upward push is nearing its end, as the upside is limited, due to a strong resistance around 1.85
Trading Strategy
Take profit. Limited upside
Source: Jupiter Securities Research 23 March 2012
Stock Overview - GAMUDA - 23 Mar 2012
GAMUDA ( 5398 : 3.60 ) : Stop loss 3.50
Description
Resistance : 4.08
Support : 3.60
RSI of 44
RSI is neutral
STOCHASTIC
It is oversold, and due for a technical rebound
TREND INDICATOR
Comment
The current upward push is maintaining, targeting 4.08. Stop loss should be placed at 3.50
Trading Strategy
Buy. Stop loss is at 3.50
Source: Jupiter Securities Research 23 March 2012
Description
Resistance : 4.08
Support : 3.60
RSI of 44
RSI is neutral
STOCHASTIC
It is oversold, and due for a technical rebound
TREND INDICATOR
Comment
The current upward push is maintaining, targeting 4.08. Stop loss should be placed at 3.50
Trading Strategy
Buy. Stop loss is at 3.50
Source: Jupiter Securities Research 23 March 2012
Stock Overview - CIMB - 23 Mar 2012
CIMB ( 1023 : 7.62 ) : Targeting 8.16
Description
Resistance : 8.16
Support : 7.40
RSI of 65
RSI remains on uptrend
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is targeting 8.16. Stop loss should be placed at 7.40
Trading Strategy
Buy. Stop loss is at 7.40
Source: Jupiter Securities Research 23 March 2012
Description
Resistance : 8.16
Support : 7.40
RSI of 65
RSI remains on uptrend
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is targeting 8.16. Stop loss should be placed at 7.40
Trading Strategy
Buy. Stop loss is at 7.40
Source: Jupiter Securities Research 23 March 2012
Daily Summary - 23 Mar 2012
YOUR MORNING COFFEE – Friday 23/3/2012
SUMMARY
· Wall St closed 0.6% lower, on slowing global growth, as China and Germany reported soft manufacturing data. HSBC Chinese manufacturing index down to 48.1, below the 50 level, indicating contraction. Initial jobless claims dipped to a 4 year low of 348,000. And leading Economic indicators up by 0.7%.
· Dow of 13,046, is capped at 13,270, indicating a small pullback. RSI of 53, has turned down. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is higher at 79.6. Downside is at 79.1.
· Crude oil is lower at USD105.3. Support is at 103.0.
· Dollar yen is lower at 82.5 yen. Support is at 81.9.
· Euro/dollar is higher at 1.320. Support is at 1.292.
· Gold is lower at USD1642. Downside is at 1625.
· Shanghai closed lower at 2,375.
· Singapore STI closed lower at 2,983.
· Ringgit is weaker at 3.081. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1583. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609.
Support is at 1550. RSI of 61, is up. Today’s range is between 1578 and 1588.
· CPO May futures is lower at RM3342. Support is at 3300.
· Trading : GAMUDA ( 5398 : 3.60 ) : Stop loss 3.50, CIMB ( 1023 : 7.62 ) : Targeting 8.16, PERISAI ( 0047 : 0.89 ) : Targeting 0.95-1.00, MHC ( 5026 : 1.77 ) : Take profit
Source: Jupiter Securities Research 23 March 2012
SUMMARY
· Wall St closed 0.6% lower, on slowing global growth, as China and Germany reported soft manufacturing data. HSBC Chinese manufacturing index down to 48.1, below the 50 level, indicating contraction. Initial jobless claims dipped to a 4 year low of 348,000. And leading Economic indicators up by 0.7%.
· Dow of 13,046, is capped at 13,270, indicating a small pullback. RSI of 53, has turned down. Caution is on the key support 12,860, which will be negative if breached.
· Dollar Index is higher at 79.6. Downside is at 79.1.
· Crude oil is lower at USD105.3. Support is at 103.0.
· Dollar yen is lower at 82.5 yen. Support is at 81.9.
· Euro/dollar is higher at 1.320. Support is at 1.292.
· Gold is lower at USD1642. Downside is at 1625.
· Shanghai closed lower at 2,375.
· Singapore STI closed lower at 2,983.
· Ringgit is weaker at 3.081. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1583. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609.
Support is at 1550. RSI of 61, is up. Today’s range is between 1578 and 1588.
· CPO May futures is lower at RM3342. Support is at 3300.
· Trading : GAMUDA ( 5398 : 3.60 ) : Stop loss 3.50, CIMB ( 1023 : 7.62 ) : Targeting 8.16, PERISAI ( 0047 : 0.89 ) : Targeting 0.95-1.00, MHC ( 5026 : 1.77 ) : Take profit
Source: Jupiter Securities Research 23 March 2012
Morning Coffee - 23 Mar 2012
U.S. and European market roundup
Cyclical sectors led US stocks lower on Thursday after factory data showed a slowdown in both the euro zone and China. The drop in demand fueled calls for the pullback in stocks after the S&P 500 scored 10 weeks of gains out of this year’s 11 weeks so far. FedEx shares dragged down the Dow Jones Transportation Average after the package delivery company warned of a lower outlook, due in part to Europe’s weak economy. (Reuters)
European stocks fell for a fourth day as manufacturing contracted in China and the euro area. European services and manufacturing output fell more than forecast in March. A survey of purchasing managers in both industries dropped to 48.7 from 49.3 in February. A preliminary measure of Chinese manufacturing fell to 48.1 in March, the lowest reading on the purchase managers’ index since November and compares with a final 49.6 in February. A result below 50 indicates a contraction. (Bloomberg)
Macro News
NA
Corporate News
Sapuracrest Petroleum Bhd, together with its stakeholder and partner Seadrill Ltd, is bidding for its second project in Brazil to capitalise on the country's burgeoning oil and gas sector. SapuraCrest executive vice-chairman and president Datuk Seri Shahril Shamsuddin said the two entities have decided to form an alliance to share the risk in bidding for the project. In November last year, SapuraCrest won a US$1.4b (RM4.3b) contract from Petroleo Brasileiro SA (Petrobras), Latin America's largest company by market value. The state-run oil producer, based in Rio de Janeiro, Brazil, awarded the contract to TL Offshore Sdn Bhd, a wholly-owned unit of SapuraCrest, to charter and operate three units of pipe-laying support vessels to be built for operations in Brazil. Seadrill is listed on both the New York and Oslo stock exchanges and owns a 23.5% stake in SapuraCrest. Shahril said Australia is another market where the company is giving added focus on top of Southeast Asian region as well as the Middle East. (Business Times)
Kobay Technology Bhd has proposed to privatise its 53.16%-owned subsidiary Lipo Corp Bhd, via a selective capital reduction and repayment exercise under Section 64 of the Companies Act, 1965 to be undertaken by Lipo. The proposed exercise would involve a RM29.93m payment to entitled Lipo shareholders, or a RM1.25 cash per Lipo share held on a date to be determined. Kobay, which does not intend to maintain the listing status of Lipo, told Bursa Malaysia that the offer price RM1.25 per Lipo share represented a premium of 21 sen (or 20.19%) over the last transacted price of RM1.04 on March 19. Also, based on Lipo’s audited statements for the financial year ended June 30, 2011, the offer price represents a price-to-earnings multiple of 6.76 times (based on a basic
earnings per Lipo share of 18.5 sen) and a price-to-book multiple of 0.8 times (based on net assets per share of RM1.57). Lipo is involved in the manufacture of precision machine components and sheet metal. (StarBiz)
Malaysia AE Models Holdings Bhd has secured a RM61.9m job for the baggage handlings system for the new low cost carrier. The contract was awarded by UEMC-Bina Puri Joint Venture, the scope of works included the
baggage handling system, auto sorting system for the proposed LCCT and associated works at the Kuala Lumpur International Airport. (The Edge Daily)
Ireka Corporation Bhd has secured a RM45.8m contract for the fit-out works of the Aloft Hotel, KL Sentral. The contract, awarded by Iringan Flora Sdn Bhdm was for 13 months. (The Edge Daily)
SP Setia Berhad’s net profit for the first quarter ended Jan 31. 2012 rose by 19% to RM74m from RM62m in the same quarter ended last year. Revenue, however, fell to RM49.16m from RM518.9m. The property developer said its pre-tax profit for the property development segments rose by 12% despite a 3% fall in revenue, mainly due to the increase in profit margin arising from the group’s success in steadily increasing the selling of its products
through continuous value creation (Bernama)
Glomac Bhd’s net profit climbed 32.5% to RM21.9m in 3Q ended Jan 31, 2012 from RM16.5m a year ago, mainly contributed by ongoing projects Glomac Damansara, Glomac Saujana Rawang and Bandar Saujana Utama. However, revenue fell 17.7% to RM145.3m from RM176.5m, mainly due to completion of projects – Glomac Tower, Sri Bangi and Glomac Galleria. The company has proposed an interim dividend of 2.75 sen per share less tax for FY12. For the nine-month periods, Glomac’s net profit also rose by 32.5% to RM63.5m from RM48m a year ago. Revenue was lower at RM408m compare with RM443.7m previously. (The Sun Daily)
Datuk Raymond Chan Boon Siew, who has been buying into several companies previously, has become a new substantial shareholder in Metronic Global Bhd. He surfaced with a 5.18% stake in the company by acquiring 32.9 million shares via the open market and a married deal. Previously, companies in which Chan surfaced as a substantial shareholder had experienced significant share price movements like Harvest Court Industries Bhd and Naim Indah Corp Bhd. Chan bought into Harvest last year. He plans to inject his private company Sagajuta (S) Sdn Bhd into Naim Indah via a reverse takeover that will see his stake in Naim Indah increasing from 12% to 45%. In a separate announcement, Metronic said it had also disposed of shares it owned in Ariantec Global Bhd through the open market yesterday and the day before and had realised a gain on disposal of RM3.4m. The company still owns about 5.3% of Ariantec after the disposal, shaving off its shareholding from 11.7%. It sold about RM5.17m worth of shares, which represents 9.7% of the group's net assets. (StarBiz)
The Minority Shareholder Watchdog Group (MSWG) has raised the question of whether Esso Malaysia Bhd’s board has received competing offers for the company. Some of the issues of interest to non-interested
shareholders (of Esso Malaysia) include whether Esso Malaysia has received other offers and, if so, the reason or reasons for not considering them, MSWG said. , Esso Malaysia said that subsequent to the fulfillment of all conditions precedent pertaining to the proposed acquisition of 65% of Esso Malaysia shares by San Miguel Corp (SMC) from ExxonMobil International Holdings Inc, SMC was extending the mandatory and unconditional general takeover offer to acquire the remaining 35% of Esso Malaysia shares at RM3.59 per share. The offeror did not intend to maintain the listing status of Esso Malaysia and its board of directors had no plans to seek a competing or alternative takeover offer. (StarBiz)
Source: Jupiter Securities Research 23 March 2012
Cyclical sectors led US stocks lower on Thursday after factory data showed a slowdown in both the euro zone and China. The drop in demand fueled calls for the pullback in stocks after the S&P 500 scored 10 weeks of gains out of this year’s 11 weeks so far. FedEx shares dragged down the Dow Jones Transportation Average after the package delivery company warned of a lower outlook, due in part to Europe’s weak economy. (Reuters)
European stocks fell for a fourth day as manufacturing contracted in China and the euro area. European services and manufacturing output fell more than forecast in March. A survey of purchasing managers in both industries dropped to 48.7 from 49.3 in February. A preliminary measure of Chinese manufacturing fell to 48.1 in March, the lowest reading on the purchase managers’ index since November and compares with a final 49.6 in February. A result below 50 indicates a contraction. (Bloomberg)
Macro News
NA
Corporate News
Sapuracrest Petroleum Bhd, together with its stakeholder and partner Seadrill Ltd, is bidding for its second project in Brazil to capitalise on the country's burgeoning oil and gas sector. SapuraCrest executive vice-chairman and president Datuk Seri Shahril Shamsuddin said the two entities have decided to form an alliance to share the risk in bidding for the project. In November last year, SapuraCrest won a US$1.4b (RM4.3b) contract from Petroleo Brasileiro SA (Petrobras), Latin America's largest company by market value. The state-run oil producer, based in Rio de Janeiro, Brazil, awarded the contract to TL Offshore Sdn Bhd, a wholly-owned unit of SapuraCrest, to charter and operate three units of pipe-laying support vessels to be built for operations in Brazil. Seadrill is listed on both the New York and Oslo stock exchanges and owns a 23.5% stake in SapuraCrest. Shahril said Australia is another market where the company is giving added focus on top of Southeast Asian region as well as the Middle East. (Business Times)
Kobay Technology Bhd has proposed to privatise its 53.16%-owned subsidiary Lipo Corp Bhd, via a selective capital reduction and repayment exercise under Section 64 of the Companies Act, 1965 to be undertaken by Lipo. The proposed exercise would involve a RM29.93m payment to entitled Lipo shareholders, or a RM1.25 cash per Lipo share held on a date to be determined. Kobay, which does not intend to maintain the listing status of Lipo, told Bursa Malaysia that the offer price RM1.25 per Lipo share represented a premium of 21 sen (or 20.19%) over the last transacted price of RM1.04 on March 19. Also, based on Lipo’s audited statements for the financial year ended June 30, 2011, the offer price represents a price-to-earnings multiple of 6.76 times (based on a basic
earnings per Lipo share of 18.5 sen) and a price-to-book multiple of 0.8 times (based on net assets per share of RM1.57). Lipo is involved in the manufacture of precision machine components and sheet metal. (StarBiz)
Malaysia AE Models Holdings Bhd has secured a RM61.9m job for the baggage handlings system for the new low cost carrier. The contract was awarded by UEMC-Bina Puri Joint Venture, the scope of works included the
baggage handling system, auto sorting system for the proposed LCCT and associated works at the Kuala Lumpur International Airport. (The Edge Daily)
Ireka Corporation Bhd has secured a RM45.8m contract for the fit-out works of the Aloft Hotel, KL Sentral. The contract, awarded by Iringan Flora Sdn Bhdm was for 13 months. (The Edge Daily)
SP Setia Berhad’s net profit for the first quarter ended Jan 31. 2012 rose by 19% to RM74m from RM62m in the same quarter ended last year. Revenue, however, fell to RM49.16m from RM518.9m. The property developer said its pre-tax profit for the property development segments rose by 12% despite a 3% fall in revenue, mainly due to the increase in profit margin arising from the group’s success in steadily increasing the selling of its products
through continuous value creation (Bernama)
Glomac Bhd’s net profit climbed 32.5% to RM21.9m in 3Q ended Jan 31, 2012 from RM16.5m a year ago, mainly contributed by ongoing projects Glomac Damansara, Glomac Saujana Rawang and Bandar Saujana Utama. However, revenue fell 17.7% to RM145.3m from RM176.5m, mainly due to completion of projects – Glomac Tower, Sri Bangi and Glomac Galleria. The company has proposed an interim dividend of 2.75 sen per share less tax for FY12. For the nine-month periods, Glomac’s net profit also rose by 32.5% to RM63.5m from RM48m a year ago. Revenue was lower at RM408m compare with RM443.7m previously. (The Sun Daily)
Datuk Raymond Chan Boon Siew, who has been buying into several companies previously, has become a new substantial shareholder in Metronic Global Bhd. He surfaced with a 5.18% stake in the company by acquiring 32.9 million shares via the open market and a married deal. Previously, companies in which Chan surfaced as a substantial shareholder had experienced significant share price movements like Harvest Court Industries Bhd and Naim Indah Corp Bhd. Chan bought into Harvest last year. He plans to inject his private company Sagajuta (S) Sdn Bhd into Naim Indah via a reverse takeover that will see his stake in Naim Indah increasing from 12% to 45%. In a separate announcement, Metronic said it had also disposed of shares it owned in Ariantec Global Bhd through the open market yesterday and the day before and had realised a gain on disposal of RM3.4m. The company still owns about 5.3% of Ariantec after the disposal, shaving off its shareholding from 11.7%. It sold about RM5.17m worth of shares, which represents 9.7% of the group's net assets. (StarBiz)
The Minority Shareholder Watchdog Group (MSWG) has raised the question of whether Esso Malaysia Bhd’s board has received competing offers for the company. Some of the issues of interest to non-interested
shareholders (of Esso Malaysia) include whether Esso Malaysia has received other offers and, if so, the reason or reasons for not considering them, MSWG said. , Esso Malaysia said that subsequent to the fulfillment of all conditions precedent pertaining to the proposed acquisition of 65% of Esso Malaysia shares by San Miguel Corp (SMC) from ExxonMobil International Holdings Inc, SMC was extending the mandatory and unconditional general takeover offer to acquire the remaining 35% of Esso Malaysia shares at RM3.59 per share. The offeror did not intend to maintain the listing status of Esso Malaysia and its board of directors had no plans to seek a competing or alternative takeover offer. (StarBiz)
Source: Jupiter Securities Research 23 March 2012
Result Note - Scientex 2QFY12 - 22 Mar 2012
Result Note: SCIENTEX BERHAD, Thursday, March 22nd, 2012 - BUY
Highlights
1HFY12 results in line Scientex Bhd’s (Scientex) 1HFY12 results were within our expectations but slightly below consensus estimates. Operating profit of RM52.5m accounted for about 53.9% of our full year target and 40.3% of consensus’ expectation while revenue of RM428.3m clocked in at 53.3% of our full year estimate and 41.3% of street’s estimate. 1H sales rose 7.7% on the back of a combined 14% increase in sales for both stretch film and PP strapping band. Its export sales registered 11% increase YoY during 1HFY12, thanks to higher demand from the Asia Pacific region. Property division posted a 24.8% increase in 1H revenue to RM125.8m. Its Taman Mutiara Mas project in Kulai remains as its core revenue generator for its property division, accounted for over 40% of contribution in total revenue generated from property business in 1HFY12.
On a yearly basis, 2Q net profit rose 5.6% to RM20.2m, on the back of a 10.1% increase in revenue. 2Q revenue was relatively flat on a quarterly basis, and PBT dipped 1.7% QoQ to RM25.8m – marginally impacted by the rise in depreciation.
Unbilled sales of RM115m As at end of January 2012, the group-wide unbilled sales stood at RM115m from its 4 core property projects. Sales in Taman Mutiara Mas project remains encouraging, given its strategic location.
Target price of RM2.99 We are maintaining our BUY recommendation on Scientex with an unchanged target price of RM2.99 based on sumof-parts valuation. Valuation wise, the group is still trading at single-digit PE of 5.7x and 5.3x for FY12 and FY13. We look forward for its EVA plant tocommence operation in 3Q this year as a potential catalyst to boost its earnings over the long run.
Source:Jupiter Securities Research 22 March 2012
Stock Overview - YTLPOWER - 22 Mar 2012
YTLPOWR ( 6742 : 1.83 ) : Targeting 2.06
Description
Resistance : 1.90 2.06
Support : 1.78
RSI of 52
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
It is on the verge of breaking out of the consolidation resistance of 1.90, to target 2.06. Stop loss should be
placed at 1.78
Trading Strategy
Buy. Stop loss is at 1.78
Source:Jupiter Securities Research 22 March 2012
Description
Resistance : 1.90 2.06
Support : 1.78
RSI of 52
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
It is on the verge of breaking out of the consolidation resistance of 1.90, to target 2.06. Stop loss should be
placed at 1.78
Trading Strategy
Buy. Stop loss is at 1.78
Source:Jupiter Securities Research 22 March 2012
Stock Overview - PJI - 22 Mar 2012
PJI ( 7122 : 0.17 ) : Consolidation breakout
Description
Building contractor
Resistance : 0.21
Support : 0.155
RSI of 59
RSI is rebounding
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout yesterday, it is heading for 0.21
Trading Strategy
Buy. Stop loss is at 0.155
Source:Jupiter Securities Research 22 March 2012
Description
Building contractor
Resistance : 0.21
Support : 0.155
RSI of 59
RSI is rebounding
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout yesterday, it is heading for 0.21
Trading Strategy
Buy. Stop loss is at 0.155
Source:Jupiter Securities Research 22 March 2012
Stock Overview - INGENS - 22 Mar 2012
INGENS ( 0034 : 0.13 ) : Targeting 0.19
Description
IT services
Resistance : 0.19
Support : 0.115
RSI of 80
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the recent consolidation breakout at 0.115, it is heading for 0.19. Stop loss should be placed at
0.115
Trading Strategy
Buy. Stop loss is at 0.115
Source:Jupiter Securities Research 22 March 2012
Description
IT services
Resistance : 0.19
Support : 0.115
RSI of 80
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the recent consolidation breakout at 0.115, it is heading for 0.19. Stop loss should be placed at
0.115
Trading Strategy
Buy. Stop loss is at 0.115
Source:Jupiter Securities Research 22 March 2012
Stock Overview - GREENYB - 22 Mar 2012
GREENYB ( 0136 : 0.27 ) : Targeting 0.30
Description
Agricultural products
Resistance : 0.30 0.35
Support : 0.245
RSI of 61
RSI is neutral
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The current upward push is likely to maintain, targeting 0.30, and possibly 0.35. Stop loss should be placed at 0.245
Trading Strategy
Buy. Stop loss is at 0.245
Source:Jupiter Securities Research 22 March 2012
Description
Agricultural products
Resistance : 0.30 0.35
Support : 0.245
RSI of 61
RSI is neutral
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The current upward push is likely to maintain, targeting 0.30, and possibly 0.35. Stop loss should be placed at 0.245
Trading Strategy
Buy. Stop loss is at 0.245
Source:Jupiter Securities Research 22 March 2012
Daily Summary - 22 Mar 2012
YOUR MORNING COFFEE – Thursday 22/3/2012
SUMMARY
· Wall St closed 0.3% lower, due to poor housing data. There was a 0.9% dip in existing home sales in February.
· Dow of 13,124, is capped at 13,270, indicating a small pullback. RSI of 59, has turned down. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is unchanged at 79.5. Downside is at 79.1.
· Crude oil is higher at USD107.2. Support is at 103.0.
· Dollar yen is lower at 83.2 yen. Support is at 81.9.
· Euro/dollar is lower at 1.321. Support is at 1.292.
· Gold is higher at USD1650. Downside is at 1625.
· Shanghai closed higher at 2,378.
· Singapore STI closed higher at 3,005.
· Ringgit is weaker at 3.081. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1582. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 60, is neutral. Today’s range is between 1576 and 1586.
· CPO May futures is higher at RM3374. Support is at 3300.
· Trading : GREENYB ( 0136 : 0.27 ) : Targeting 0.30, PJI ( 7122 : 0.17 ) : Consolidation breakout, INGENS ( 0034 : 0.13 ) : Targeting 0.19, YTLPOWR ( 6742 : 1.83 ) : Targeting 2.06
Source:Jupiter Securities Research 22 March 2012
SUMMARY
· Wall St closed 0.3% lower, due to poor housing data. There was a 0.9% dip in existing home sales in February.
· Dow of 13,124, is capped at 13,270, indicating a small pullback. RSI of 59, has turned down. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is unchanged at 79.5. Downside is at 79.1.
· Crude oil is higher at USD107.2. Support is at 103.0.
· Dollar yen is lower at 83.2 yen. Support is at 81.9.
· Euro/dollar is lower at 1.321. Support is at 1.292.
· Gold is higher at USD1650. Downside is at 1625.
· Shanghai closed higher at 2,378.
· Singapore STI closed higher at 3,005.
· Ringgit is weaker at 3.081. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1582. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 60, is neutral. Today’s range is between 1576 and 1586.
· CPO May futures is higher at RM3374. Support is at 3300.
· Trading : GREENYB ( 0136 : 0.27 ) : Targeting 0.30, PJI ( 7122 : 0.17 ) : Consolidation breakout, INGENS ( 0034 : 0.13 ) : Targeting 0.19, YTLPOWR ( 6742 : 1.83 ) : Targeting 2.06
Source:Jupiter Securities Research 22 March 2012
Tuesday 20 March 2012
Stock Overview - YINSON - 21 Mar 2012
YINSON ( 7293 : 1.66 ) : Sell into rallies
Description
Building contractor
Resistance : 1.77-1.83
Support : 1.56
RSI of 81
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
The upside is limited, due to the overall overbought condition. Strong resistance around 1.77-1.83
Trading Strategy
Sell into rallies. Limited upside
Description
Building contractor
Resistance : 1.77-1.83
Support : 1.56
RSI of 81
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
The upside is limited, due to the overall overbought condition. Strong resistance around 1.77-1.83
Trading Strategy
Sell into rallies. Limited upside
Stock Overview - POH KONG - 21 Mar 2012
POH KONG ( 5080 : 0.57 ) : Sell into rallies
Description
Resistance : 0.59-0.63
Support : 0.54
RSI of 61
RSI is slightly positive
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The upside is limited, due to the overall overbought condition. Strong resistance around 0.59-0.63
Trading Strategy
Sell into rallies. Limited upside
Description
Resistance : 0.59-0.63
Support : 0.54
RSI of 61
RSI is slightly positive
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The upside is limited, due to the overall overbought condition. Strong resistance around 0.59-0.63
Trading Strategy
Sell into rallies. Limited upside
Stock Overview - MBSB - 21 Mar 2012
MBSB ( 1171 : 2.21 ) : Take profit
Description
Resistance : 2.32
Support : 2.05
RSI of 41
RSI is weakening
STOCHASTIC
It is on a downswing
TREND INDICATOR
Comment
It may have hit its high at 2.49, and the current sell down is likely to continue.
Trading Strategy
Take profit
Source:Jupiter Securities Research 21 March 2012
Description
Resistance : 2.32
Support : 2.05
RSI of 41
RSI is weakening
STOCHASTIC
It is on a downswing
TREND INDICATOR
Comment
It may have hit its high at 2.49, and the current sell down is likely to continue.
Trading Strategy
Take profit
Source:Jupiter Securities Research 21 March 2012
Stock Overview - HEVEA - 21 Mar 2012
HEVEA ( 5095 : 0.58 ) : Targeting 0.75
Description
Wood building products
Resistance : 0.75
Support : 0.54
RSI of 53
RSI is rebounding
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current stepwise upmove is likely to maintain, targeting 0.75. Stop loss should be placed at 0.54
Trading Strategy
Buy. Stop loss is at 0.54
Source:Jupiter Securities Research 21 March 2012
Description
Wood building products
Resistance : 0.75
Support : 0.54
RSI of 53
RSI is rebounding
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current stepwise upmove is likely to maintain, targeting 0.75. Stop loss should be placed at 0.54
Trading Strategy
Buy. Stop loss is at 0.54
Source:Jupiter Securities Research 21 March 2012
Daily Summary - 21 Mar 2012
YOUR MORNING COFFEE – Wednesday 21/3/2012
SUMMARY
· Wall St closed 0.5% lower, due to concerns over China’s slowing growth, affecting demand for industrial commodities. Oil dipped 2%. In US, building permits rose sharply by 5.1%, although housing starts
dipped 1.1% in February.
· Dow of 13,170, is capped at 13,270, indicating a small pullback. RSI of 63, has turned down. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is higher at 79.5. Downside is at 79.1.
· Crude oil is lower at USD105.6. Support is at 103.0.
· Dollar yen is higher at 83.6 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.324. Support is at 1.292.
· Gold is lower at USD1647. Downside is at 1625.
· Shanghai closed lower at 2,376.
· Singapore STI closed higher at 3,006.
· Ringgit is weaker at 3.078. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1577. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 57, is neutral. Today’s range is between
1570 and 1580.
· CPO May futures is lower at RM3365. Support is at 3300.
· Trading : HEVEA ( 5095 : 0.58 ) : Targeting 0.75, POH KONG ( 5080 : 0.57 ) : Sell into rallies, MBSB ( 1171 : 2.21 ) : Take profit, YINSON ( 7293 : 1.66 ) : Sell into rallies
Source:Jupiter Securities Research 21 March 2012
SUMMARY
· Wall St closed 0.5% lower, due to concerns over China’s slowing growth, affecting demand for industrial commodities. Oil dipped 2%. In US, building permits rose sharply by 5.1%, although housing starts
dipped 1.1% in February.
· Dow of 13,170, is capped at 13,270, indicating a small pullback. RSI of 63, has turned down. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is higher at 79.5. Downside is at 79.1.
· Crude oil is lower at USD105.6. Support is at 103.0.
· Dollar yen is higher at 83.6 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.324. Support is at 1.292.
· Gold is lower at USD1647. Downside is at 1625.
· Shanghai closed lower at 2,376.
· Singapore STI closed higher at 3,006.
· Ringgit is weaker at 3.078. Downside is at 3.110.
· S’pore ringgit is higher at 2.437. Resistance is at 2.440
· Malaysian market closed higher at 1577. On the Daily chart, it broke the 200 MA of 1506, indicating a further upward push to 1609. Support is at 1550. RSI of 57, is neutral. Today’s range is between
1570 and 1580.
· CPO May futures is lower at RM3365. Support is at 3300.
· Trading : HEVEA ( 5095 : 0.58 ) : Targeting 0.75, POH KONG ( 5080 : 0.57 ) : Sell into rallies, MBSB ( 1171 : 2.21 ) : Take profit, YINSON ( 7293 : 1.66 ) : Sell into rallies
Source:Jupiter Securities Research 21 March 2012
Monday 19 March 2012
Stock Overview - TA - 20 Mar 2012
TA ( 4898 : 0.61 ) : Technical rebound
Description
Resistance : 0.65
Support : 0.595
RSI of 52
RSI is recovering
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Currently it is on a technical rebound, due to the Double Bottom of 0.595. Immediate term upside is at 0.65
Trading Strategy
Buy. Stop loss is at 0.59
Source:Jupiter Securities Research 20 March 2012
Description
Resistance : 0.65
Support : 0.595
RSI of 52
RSI is recovering
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Currently it is on a technical rebound, due to the Double Bottom of 0.595. Immediate term upside is at 0.65
Trading Strategy
Buy. Stop loss is at 0.59
Source:Jupiter Securities Research 20 March 2012
Stock Overview - SOZO - 20 Mar 2012
SOZO ( 5187 : 0.59 ) : Consolidation breakout
Description
Food manufacturer
Resistance : 0.70
Support : 0.57
RSI of 58
RSI is on a sharp rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The consolidation breakout is targeting the 50% retracement level of 0.70. A tight stop loss should be placed
at 0.57
Trading Strategy
Buy. Stop loss is at 0.57
Source:Jupiter Securities Research 20 March 2012
Description
Food manufacturer
Resistance : 0.70
Support : 0.57
RSI of 58
RSI is on a sharp rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The consolidation breakout is targeting the 50% retracement level of 0.70. A tight stop loss should be placed
at 0.57
Trading Strategy
Buy. Stop loss is at 0.57
Source:Jupiter Securities Research 20 March 2012
Stock Overview - PUNCAK - 20 Mar 2012
PUNCAK ( 6807 : 1.51 ) : Technical rebound
Description
Resistance : 1.66 1.75
Support : 1.46
RSI of 57
RSI is on a sharp rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
It is on a technical rebound, to target the 61.8% retracement level of 1.66. Suggest to take profit above 1.66
Trading Strategy
Buy. Stop loss is at 1.46 gap
Source:Jupiter Securities Research 20 March 2012
Description
Resistance : 1.66 1.75
Support : 1.46
RSI of 57
RSI is on a sharp rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
It is on a technical rebound, to target the 61.8% retracement level of 1.66. Suggest to take profit above 1.66
Trading Strategy
Buy. Stop loss is at 1.46 gap
Source:Jupiter Securities Research 20 March 2012
JAKS ( 4723 : 0.59 ) : Double bottom
JAKS ( 4723 : 0.59 ) : Double bottom
Description
Resistance : 0.68
Support : 0.58
RSI of 48
RSI is recovering
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Currently it is hovering at the Double Bottom of 0.58. Immediate term upside is at 0.68
Trading Strategy
Buy. Stop loss is at 0.575
Source:Jupiter Securities Research 20 March 2012
Description
Resistance : 0.68
Support : 0.58
RSI of 48
RSI is recovering
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Currently it is hovering at the Double Bottom of 0.58. Immediate term upside is at 0.68
Trading Strategy
Buy. Stop loss is at 0.575
Source:Jupiter Securities Research 20 March 2012
Daily Summary - 20 Mar 2012
YOUR MORNING COFFEE – Tuesday 20/3/2012
SUMMARY
· Wall St closed 0.05% higher, boosted by Apple’s dividend and share buyback announcement, otherwise, there was not much news. This week, the focus is likely on housing. While employment has picked up, home prices remain at a decade low.
· Dow of 13,239, is targeting 13,279. Previous high is 14,198. RSI of 69, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 79.4. Downside is at 79.1.
· Crude oil is higher at USD108.0. Resistance is at 114.0.
· Dollar yen is lower at 83.3 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.324. Support is at 1.292.
· Gold is higher at USD1667. Downside is at 1625.
· Shanghai closed higher at 2,410.
· Singapore STI closed lower at 2,990.
· Ringgit is firmer at 3.049. Downside is at 3.110.
· S’pore ringgit is higher at 2.428. Resistance is at 2.440
· Malaysian market closed higher at 1573. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 55, is neutral. Today’s range is between
1570 and 1580.
· CPO May futures is lower at RM3368. Support is at 3300.
· Trading : PUNCAK ( 6807 : 1.51 ) : Technical rebound, SOZO ( 5187 : 0.59 ) : Consolidation breakout, TA ( 4898 : 0.60 ) : Technical rebound, JAKS ( 4723 : 0.58 ) : Double bottom
Source:Jupiter Securities Research 20 March 2012
SUMMARY
· Wall St closed 0.05% higher, boosted by Apple’s dividend and share buyback announcement, otherwise, there was not much news. This week, the focus is likely on housing. While employment has picked up, home prices remain at a decade low.
· Dow of 13,239, is targeting 13,279. Previous high is 14,198. RSI of 69, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 79.4. Downside is at 79.1.
· Crude oil is higher at USD108.0. Resistance is at 114.0.
· Dollar yen is lower at 83.3 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.324. Support is at 1.292.
· Gold is higher at USD1667. Downside is at 1625.
· Shanghai closed higher at 2,410.
· Singapore STI closed lower at 2,990.
· Ringgit is firmer at 3.049. Downside is at 3.110.
· S’pore ringgit is higher at 2.428. Resistance is at 2.440
· Malaysian market closed higher at 1573. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 55, is neutral. Today’s range is between
1570 and 1580.
· CPO May futures is lower at RM3368. Support is at 3300.
· Trading : PUNCAK ( 6807 : 1.51 ) : Technical rebound, SOZO ( 5187 : 0.59 ) : Consolidation breakout, TA ( 4898 : 0.60 ) : Technical rebound, JAKS ( 4723 : 0.58 ) : Double bottom
Source:Jupiter Securities Research 20 March 2012
Sunday 18 March 2012
Daily Summary - 19 Mar 2012
YOUR MORNING COFFEE – Monday 19/3/2012
SUMMARY
· Wall St closed 0.15% lower, due to disappointing date. CPI rose to 0.4% in February, against 0.2% estimate. Industrial production unchanged, versus 0.5% estimate. Consumer sentiment index was
down to 74.3.
· Dow of 13,232, is targeting 13,279. Previous high is 14,198. RSI of 69, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 79.7. Downside is at 79.1.
· Crude oil is higher at USD107.0. Resistance is at 114.0.
· Dollar yen is lower at 83.4 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.317. Support is at 1.292.
· Gold is higher at USD1660. Downside is at 1625.
· Shanghai closed higher at 2,404.
· Singapore STI closed lower at 3,010.
· Ringgit is firmer at 3.049. Downside is at 3.110.
· S’pore ringgit is higher at 2.427. Resistance is at 2.440
· Malaysian market closed lower at 1571. On the Daily chart, it broke
the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 54, is neutral. Today’s range is between 1569 and 1577.
· CPO April futures is higher at RM3393. Resistance is at 3400.
· Trading :
Source:Jupiter Securities Research 19 March 2012
SUMMARY
· Wall St closed 0.15% lower, due to disappointing date. CPI rose to 0.4% in February, against 0.2% estimate. Industrial production unchanged, versus 0.5% estimate. Consumer sentiment index was
down to 74.3.
· Dow of 13,232, is targeting 13,279. Previous high is 14,198. RSI of 69, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 79.7. Downside is at 79.1.
· Crude oil is higher at USD107.0. Resistance is at 114.0.
· Dollar yen is lower at 83.4 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.317. Support is at 1.292.
· Gold is higher at USD1660. Downside is at 1625.
· Shanghai closed higher at 2,404.
· Singapore STI closed lower at 3,010.
· Ringgit is firmer at 3.049. Downside is at 3.110.
· S’pore ringgit is higher at 2.427. Resistance is at 2.440
· Malaysian market closed lower at 1571. On the Daily chart, it broke
the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 54, is neutral. Today’s range is between 1569 and 1577.
· CPO April futures is higher at RM3393. Resistance is at 3400.
· Trading :
Source:Jupiter Securities Research 19 March 2012
Thursday 15 March 2012
Stock Overview - YTL - 16 Mar 2012
YTL ( 4677 : 1.74 ) : Targeting 2.00
Description
Resistance : 2.00
Support : 1.66
RSI of 63
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current rebound has an upside of 2.00. A tight stop loss should be placed at 1.66
Trading Strategy
Buy. Stop loss is at 1.66
Source:Jupiter Securities Research 16 March 2012
Description
Resistance : 2.00
Support : 1.66
RSI of 63
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current rebound has an upside of 2.00. A tight stop loss should be placed at 1.66
Trading Strategy
Buy. Stop loss is at 1.66
Source:Jupiter Securities Research 16 March 2012
Stock Overview - TIGER - 16 Mar 2012
TIGER ( 7079 : 0.16 ) : Targeting 0.20
Description
Property
Resistance : 0.20
Support : 0.14
RSI of 71
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is targeting 0.20. A tight stop loss should be placed at 0.14
Trading Strategy
Buy. Stop loss is at 0.14
Source:Jupiter Securities Research 16 March 2012
Description
Property
Resistance : 0.20
Support : 0.14
RSI of 71
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is targeting 0.20. A tight stop loss should be placed at 0.14
Trading Strategy
Buy. Stop loss is at 0.14
Source:Jupiter Securities Research 16 March 2012
Stock Overview - INGRESS - 16 Mar 2012
INGRESS ( 7112 : 1.02 ) : Stop loss 0.96
Description
Auto parts
Resistance : 1.38
Support : 0.96
RSI of 77
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current up-kick is targeting 1.38. A tight stop loss should be placed at 0.96
Trading Strategy
Buy. Stop loss is at 0.96
Source:Jupiter Securities Research 16 March 2012
Description
Auto parts
Resistance : 1.38
Support : 0.96
RSI of 77
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current up-kick is targeting 1.38. A tight stop loss should be placed at 0.96
Trading Strategy
Buy. Stop loss is at 0.96
Source:Jupiter Securities Research 16 March 2012
Stock Overview - CIMB - 16 Mar 2012
CIMB ( 1023 : 7.42 ) : Targeting 7.86
Description
Resistance : 7.86
Support : 7.28
RSI of 59
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current rebound off the lower trendline has an upside of 7.86. Stop loss is at the price gap of 7.28
Trading Strategy
Buy. Stop loss is at 7.28
Source:Jupiter Securities Research 16 March 2012
Description
Resistance : 7.86
Support : 7.28
RSI of 59
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
The current rebound off the lower trendline has an upside of 7.86. Stop loss is at the price gap of 7.28
Trading Strategy
Buy. Stop loss is at 7.28
Source:Jupiter Securities Research 16 March 2012
Daily Summary - 16 Mar 2012
YOUR MORNING COFFEE – Friday 16/3/2012
SUMMARY
· Wall St closed 0.4% higher, due to improving economy. The weekly initial jobless claims dipped to a 4 year low of 351,000. Regional activity in New York area, the Empire manufacturing index, jumped to
20.2, higher than the 15 estimate. Wholesale inflation PPI up 0.4%, lower than the 0.5% estimate.
· Dow of 13,252, is targeting 13,279. Previous high is 14,198. RSI of 71, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 80.2. Upside is at 81.0.
· Crude oil is lower at USD105.1. Support is at 101.0.
· Dollar yen is lower at 83.5 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.308. Support is at 1.292.
· Gold is higher at USD1659. Downside is at 1625.
· Shanghai closed lower at 2,373.
· Singapore STI closed lower at 3,025.
· Ringgit is firmer at 3.053. Downside is at 3.110.
· S’pore ringgit is higher at 2.415. Resistance is at 2.430
· Malaysian market closed higher at 1579. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 60, is neutral. Today’s range is between
1576 and 1586.
· CPO April futures is higher at RM3393. Resistance is at 3400.
· Trading : CIMB ( 1023 : 7.57 ) : Targeting 7.86, YTL ( 4677 : 1.80 ) : Targeting 2.00, TIGER ( 7079 : 0.15 ) : Targeting 0.20, INGRESS ( 7112 : 1.02 ) : Stop loss 0.96
Source:Jupiter Securities Research 16 March 2012
SUMMARY
· Wall St closed 0.4% higher, due to improving economy. The weekly initial jobless claims dipped to a 4 year low of 351,000. Regional activity in New York area, the Empire manufacturing index, jumped to
20.2, higher than the 15 estimate. Wholesale inflation PPI up 0.4%, lower than the 0.5% estimate.
· Dow of 13,252, is targeting 13,279. Previous high is 14,198. RSI of 71, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 80.2. Upside is at 81.0.
· Crude oil is lower at USD105.1. Support is at 101.0.
· Dollar yen is lower at 83.5 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.308. Support is at 1.292.
· Gold is higher at USD1659. Downside is at 1625.
· Shanghai closed lower at 2,373.
· Singapore STI closed lower at 3,025.
· Ringgit is firmer at 3.053. Downside is at 3.110.
· S’pore ringgit is higher at 2.415. Resistance is at 2.430
· Malaysian market closed higher at 1579. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 60, is neutral. Today’s range is between
1576 and 1586.
· CPO April futures is higher at RM3393. Resistance is at 3400.
· Trading : CIMB ( 1023 : 7.57 ) : Targeting 7.86, YTL ( 4677 : 1.80 ) : Targeting 2.00, TIGER ( 7079 : 0.15 ) : Targeting 0.20, INGRESS ( 7112 : 1.02 ) : Stop loss 0.96
Source:Jupiter Securities Research 16 March 2012
Wednesday 14 March 2012
Stock Overview - WONG - 15 Mar 2012
WONG ( 7050 : 0.33 ) : Targeting 0.46
Description
Fabricated metals
Resistance : 0.46
Support : 0.29
RSI of 77
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to the 61.8% retracement of 0.46
Trading Strategy
Buy. Stop loss is at 0.29
Source:Jupiter Securities Research 15 March 2012
Description
Fabricated metals
Resistance : 0.46
Support : 0.29
RSI of 77
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to the 61.8% retracement of 0.46
Trading Strategy
Buy. Stop loss is at 0.29
Source:Jupiter Securities Research 15 March 2012
Stock Overview - POHUAT - 15 Mar 2012
POHUAT ( 7088 : 0.41 ) : Stop loss 0.395
Description
Furnitures
Resistance : 0.54
Support : 0.395
RSI of 70
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to 0.54. A tight stop loss should be placed at 0.395
Trading Strategy
Buy. Stop loss is at 0.395
Source:Jupiter Securities Research 15 March 2012
Description
Furnitures
Resistance : 0.54
Support : 0.395
RSI of 70
RSI is overbought
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to 0.54. A tight stop loss should be placed at 0.395
Trading Strategy
Buy. Stop loss is at 0.395
Source:Jupiter Securities Research 15 March 2012
Stock Overview - HWATAI - 15 Mar 2012
HWATAI ( 8478 : 0.63 ) : Stop loss 0.58
Description
Biscuits
Resistance : 0.84 0.91
Support : 0.58
RSI of 64
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to retest the overhead resistance of 0.84. A tight stop loss should be placed at 0.58
Trading Strategy
Buy. Stop loss is at 0.58
Source:Jupiter Securities Research 15 March 2012
Description
Biscuits
Resistance : 0.84 0.91
Support : 0.58
RSI of 64
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to retest the overhead resistance of 0.84. A tight stop loss should be placed at 0.58
Trading Strategy
Buy. Stop loss is at 0.58
Source:Jupiter Securities Research 15 March 2012
Stock Overview - FFHB - 15 Mar 2012
FFHB ( 8605 : 0.17 ) : Stop loss 0.15
Description
Furnitures & interior fittings
Resistance : 0.25
Support : 0.15
RSI of 60
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to 0.25. A tight stop loss should be placed at 0.15
Trading Strategy
Buy. Stop loss is at 0.15
Source:Jupiter Securities Research 15 March 2012
Description
Furnitures & interior fittings
Resistance : 0.25
Support : 0.15
RSI of 60
RSI is on the rise
STOCHASTIC
It is on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading higher to 0.25. A tight stop loss should be placed at 0.15
Trading Strategy
Buy. Stop loss is at 0.15
Source:Jupiter Securities Research 15 March 2012
Daily Summary - 15 Mar 2012
YOUR MORNING COFFEE – Thursday 15/3/2012
SUMMARY
· Wall St closed 0.1% higher, a pause after the upkick of the previous day. US Fed said that most banks would be able to weather another recession hit except for 4 banks. Technology stocks rose due to upbeat
outlook. China said that it will not ease the housing curbs.
· Dow of 13,194, is targeting 13,279. Previous high is 14,198. RSI of 68, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is higher at 80.6. Upside is at 81.0.
· Crude oil is lower at USD105.4. Support is at 101.0.
· Dollar yen is higher at 83.7 yen. Resistance is at 85.6.
· Euro/dollar is lower at 1.303. Support is at 1.292.
· Gold is lower at USD1642. Downside is at 1625.
· Shanghai closed lower at 2,391.
· Singapore STI closed higher at 3,026.
· Ringgit is weaker at 3.065. Downside is at 3.110.
· S’pore ringgit is higher at 2.415. Resistance is at 2.430
· Malaysian market closed higher at 1575. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 58, is neutral. Today’s range is between
1570 and 1582.
· CPO April futures is higher at RM3380. Resistance is at 3400.
· Trading : FFHB ( 8605 : 0.17 ) : Stop loss 0.15, POHUAT ( 7088 : 0.41 ) : Stop loss 0.395, WONG ( 7050 : 0.33 ) : Targeting 0.46, HWATAI ( 8478 : 0.64 ) : Stop loss 0.58
Source:Jupiter Securities Research 15 March 2012
Tuesday 13 March 2012
Stock Overview - XDL - 14 Mar 2012
XDL ( 5156 : 0.40 ) : Stop loss 0.38
Description
Sporting goods manufacturer
Resistance : 0.445 0.52
Support : 0.38
RSI of 63
RSI is on the rise
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The upkick yesterday, is likely to breach the overhead resistance at 0.445. A tight stop loss should be placed at 0.38
Trading Strategy
Buy. Stop loss is at 0.38
Source:Jupiter Securities Research 14 March 2012
Description
Sporting goods manufacturer
Resistance : 0.445 0.52
Support : 0.38
RSI of 63
RSI is on the rise
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The upkick yesterday, is likely to breach the overhead resistance at 0.445. A tight stop loss should be placed at 0.38
Trading Strategy
Buy. Stop loss is at 0.38
Source:Jupiter Securities Research 14 March 2012
Stock Overview - TAKASO - 14 Mar 2012
TAKASO ( 7071 : 0.24 ) : Stop loss 0.215
Description
Resistance : 0.31 0.37
Support : 0.22
RSI of 54
RSI is on the rise
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The current slow upward crawl is expected to maintain. The 50% retracement level is at 0.37. A tight stop
loss should be placed at 0.215
Trading Strategy
Buy. Stop loss is at 0.215
Source:Jupiter Securities Research 14 March 2012
Description
Resistance : 0.31 0.37
Support : 0.22
RSI of 54
RSI is on the rise
STOCHASTIC
It is neutral
TREND INDICATOR
Comment
The current slow upward crawl is expected to maintain. The 50% retracement level is at 0.37. A tight stop
loss should be placed at 0.215
Trading Strategy
Buy. Stop loss is at 0.215
Source:Jupiter Securities Research 14 March 2012
Stock Overview - SHCHAN - 14 Mar 2012
SHCHAN ( 4316 : 1.10 ) : Targeting 1.24
Description
Animal feeds and poultry products
Resistance : 1.16 1.24
Support : 0.94
RSI of 78
RSI is overbought
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The strong spike-up yesterday, is heading higher to the 61.8% retracement of 1.16, and possibly 1.24. Stop loss should be placed at 0.94
Trading Strategy
Buy. Stop loss is at 0.94
Source:Jupiter Securities Research 14 March 2012
Description
Animal feeds and poultry products
Resistance : 1.16 1.24
Support : 0.94
RSI of 78
RSI is overbought
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The strong spike-up yesterday, is heading higher to the 61.8% retracement of 1.16, and possibly 1.24. Stop loss should be placed at 0.94
Trading Strategy
Buy. Stop loss is at 0.94
Source:Jupiter Securities Research 14 March 2012
Stock Overview - JCY - 14 Mar 2012
JCY ( 5161 : 1.10 ) : negative Head and Shoulder
Description
Resistance : 1.20
Support : 0.94 1.07
RSI of 36
RSI is weakening
STOCHASTIC
It is approaching oversold
TREND INDICATOR
Comment
Following the recent downside breach of the Head & Shoulder neckline of 1.20, it is expected to head lower.
The 50% retracement level is at 0.94. Upside is capped at 1.20
Trading Strategy
Take profit.
Source:Jupiter Securities Research 14 March 2012
Description
Resistance : 1.20
Support : 0.94 1.07
RSI of 36
RSI is weakening
STOCHASTIC
It is approaching oversold
TREND INDICATOR
Comment
Following the recent downside breach of the Head & Shoulder neckline of 1.20, it is expected to head lower.
The 50% retracement level is at 0.94. Upside is capped at 1.20
Trading Strategy
Take profit.
Source:Jupiter Securities Research 14 March 2012
Daily Summary - 14 Mar 2012
YOUR MORNING COFFEE – Wednesday 14/3/2012
SUMMARY
· Wall St closed 1.7% higher, ahead of an early release of a major bank stress test, when JPMorgan and BA said that they passed the test. US Federal Reserve gave an upbeat assessment of the economy, as jobs and consumer spending have improved, and inflation under control. FOMC left rates unchanged. Retail sales rose 1.1%.
· Dow of 13,177, is targeting 13,279. Previous high is 14,198. RSI of 68, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is higher at 80.1. Upside is at 81.0.
· Crude oil is higher at USD106.7. Support is at 101.0.
· Dollar yen is higher at 83.0 yen. Resistance is at 84.3.
· Euro/dollar is lower at 1.308. Support is at 1.297.
· Gold is lower at USD1676. Downside is at 1625.
· Shanghai closed higher at 2,455.
· Singapore STI closed higher at 2,989.
· Ringgit is weaker at 3.033. Support is at 3.110.
· S’pore ringgit is higher at 2.409. Resistance is at 2.430
· Malaysian market closed lower at 1564. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 52, is weakening. Today’s range is between 1564 and 1580.
· CPO April futures is higher at RM3362. Resistance is at 3400.
· Trading : JCY ( 5161 : 1.10 ) : negative Head and Shoulder, SHCHAN ( 4316 : 1.10 ) : Targeting 1.24 XDL ( 5156 : 0.40 ) : Stop loss 0.38, TAKASO ( 7071 : 0.23 ) : Stop loss 0.215
Source:Jupiter Securities Research 14 March 2012
SUMMARY
· Wall St closed 1.7% higher, ahead of an early release of a major bank stress test, when JPMorgan and BA said that they passed the test. US Federal Reserve gave an upbeat assessment of the economy, as jobs and consumer spending have improved, and inflation under control. FOMC left rates unchanged. Retail sales rose 1.1%.
· Dow of 13,177, is targeting 13,279. Previous high is 14,198. RSI of 68, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is higher at 80.1. Upside is at 81.0.
· Crude oil is higher at USD106.7. Support is at 101.0.
· Dollar yen is higher at 83.0 yen. Resistance is at 84.3.
· Euro/dollar is lower at 1.308. Support is at 1.297.
· Gold is lower at USD1676. Downside is at 1625.
· Shanghai closed higher at 2,455.
· Singapore STI closed higher at 2,989.
· Ringgit is weaker at 3.033. Support is at 3.110.
· S’pore ringgit is higher at 2.409. Resistance is at 2.430
· Malaysian market closed lower at 1564. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 52, is weakening. Today’s range is between 1564 and 1580.
· CPO April futures is higher at RM3362. Resistance is at 3400.
· Trading : JCY ( 5161 : 1.10 ) : negative Head and Shoulder, SHCHAN ( 4316 : 1.10 ) : Targeting 1.24 XDL ( 5156 : 0.40 ) : Stop loss 0.38, TAKASO ( 7071 : 0.23 ) : Stop loss 0.215
Source:Jupiter Securities Research 14 March 2012
Monday 12 March 2012
Stock Overview - UEMLAND - 13 Mar 2012
UEMLAND ( 5148 : 2.26 ) : Targeting 2.47
Description
Resistance : 2.47 2.68
Support : 2.18
RSI of 44
RSI appears to have stabilised
STOCHASTIC
It is oversold, indicating a limited downside
TREND INDICATOR
Comment
The current pullback may be ending as technicals are approaching oversold.
Trading Strategy
Buy. Stop loss is at 2.16
Source:Jupiter Securities Research 13 March 2012
Description
Resistance : 2.47 2.68
Support : 2.18
RSI of 44
RSI appears to have stabilised
STOCHASTIC
It is oversold, indicating a limited downside
TREND INDICATOR
Comment
The current pullback may be ending as technicals are approaching oversold.
Trading Strategy
Buy. Stop loss is at 2.16
Source:Jupiter Securities Research 13 March 2012
Stock Overview - TENAGA - 13 Mar 2012
TENAGA ( 5347 : 6.42 ) : Targeting 6.84
Description
Resistance : 6.84 7.00
Support : 6.20
RSI of 64
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading to test a resistance at 6.84
Trading Strategy
Buy. Stop loss is at 6.20
Source:Jupiter Securities Research 13 March 2012
Description
Resistance : 6.84 7.00
Support : 6.20
RSI of 64
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading to test a resistance at 6.84
Trading Strategy
Buy. Stop loss is at 6.20
Source:Jupiter Securities Research 13 March 2012
Stock Overview - NWP - 13 Mar 2012
NWP ( 5025 : 0.24 ) : Targeting 0.35
Description
Wood building products
Resistance : 0.35
Support : 0.21
RSI of 73
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
The sharp upkick yesterday, is heading to test a resistance at 0.35
Trading Strategy
Buy. Stop loss is at 0.21
Source:Jupiter Securities Research 13 March 2012
Description
Wood building products
Resistance : 0.35
Support : 0.21
RSI of 73
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
The sharp upkick yesterday, is heading to test a resistance at 0.35
Trading Strategy
Buy. Stop loss is at 0.21
Source:Jupiter Securities Research 13 March 2012
Stock Overview - SKPRES - 13 Mar 2012
SKPRES ( 7155 : 0.54 ) : Targeting 0.63
Description
Rubber and plastic manufacturing
Resistance : 0.63
Support : 0.53
RSI of 79
RSI is overbought
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading to test a resistance at 0.63
Trading Strategy
Buy. Stop loss is at 0.53
Source:Jupiter Securities Research 13 March 2012
Description
Rubber and plastic manufacturing
Resistance : 0.63
Support : 0.53
RSI of 79
RSI is overbought
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading to test a resistance at 0.63
Trading Strategy
Buy. Stop loss is at 0.53
Source:Jupiter Securities Research 13 March 2012
Daily Summary - 13 Mar 2012
YOUR MORNING COFFEE – Tuesday 13/3/2012
SUMMARY
Wall St closed 0.3% higher, ahead of the US FOMC tonight, which is expected to leave rates unchanged. China reported huge trade deficits of USD31.5bln in February.
Dow of 12,959, is targeting 13,279. Previous high is 14,198. RSI of 57, is on a spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
Dollar Index is lower at 79.8. Upside is at 81.0.
Crude oil is lower at USD106.3. Support is at 101.0.
Dollar yen is higher at 82.4 yen. Resistance is at 83.1.
Euro/dollar is higher at 1.315. Support is at 1.297.
Gold is lower at USD1699. Downside is at 1625.
Shanghai closed lower at 2,434.
Singapore STI closed higher at 2,966.
Ringgit is weaker at 3.026. Support is at 3.110.
S’pore ringgit is lower at 2.396. Resistance is at 2.430
Malaysian market closed lower at 1564. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 52, is weakening. Today’s range is between 1560 and 1574.
CPO April futures is higher at RM3357. Resistance is at 3384.
Trading : TENAGA ( 5347 : 6.42 ) : Targeting 6.84, SKPRES ( 7155 : 0.54 ) : Targeting 0.63, NWP ( 5025 : 0.24 ) : Targeting 0.35, UEMLAND ( 5148 : 2.26 ) : Targeting 2.47
Source:Jupiter Securities Research 13 March 2012
SUMMARY
Wall St closed 0.3% higher, ahead of the US FOMC tonight, which is expected to leave rates unchanged. China reported huge trade deficits of USD31.5bln in February.
Dow of 12,959, is targeting 13,279. Previous high is 14,198. RSI of 57, is on a spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
Dollar Index is lower at 79.8. Upside is at 81.0.
Crude oil is lower at USD106.3. Support is at 101.0.
Dollar yen is higher at 82.4 yen. Resistance is at 83.1.
Euro/dollar is higher at 1.315. Support is at 1.297.
Gold is lower at USD1699. Downside is at 1625.
Shanghai closed lower at 2,434.
Singapore STI closed higher at 2,966.
Ringgit is weaker at 3.026. Support is at 3.110.
S’pore ringgit is lower at 2.396. Resistance is at 2.430
Malaysian market closed lower at 1564. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 52, is weakening. Today’s range is between 1560 and 1574.
CPO April futures is higher at RM3357. Resistance is at 3384.
Trading : TENAGA ( 5347 : 6.42 ) : Targeting 6.84, SKPRES ( 7155 : 0.54 ) : Targeting 0.63, NWP ( 5025 : 0.24 ) : Targeting 0.35, UEMLAND ( 5148 : 2.26 ) : Targeting 2.47
Source:Jupiter Securities Research 13 March 2012
Sunday 11 March 2012
Stock Overview -LEESK - 12 Mac 2012
LEESK ( 8079 : 0.21 ) : Targeting 0.28
Description
Furnishings
Resistance : 0.28
Support : 0.17
RSI of 73
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The sharp upkick yesterday, is heading to test a resistance at 0.28
Trading Strategy
Buy. Stop loss is at 0.17
Source:Jupiter Securities Research 12 March 2012
Description
Furnishings
Resistance : 0.28
Support : 0.17
RSI of 73
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The sharp upkick yesterday, is heading to test a resistance at 0.28
Trading Strategy
Buy. Stop loss is at 0.17
Source:Jupiter Securities Research 12 March 2012
Stock Overview - SALCON -12 Mac 2012
SALCON ( 8567 : 0.58 ) : Targeting 0.64
Description
Water, sewerage services
Resistance : 0.64 0.70
Support : 0.56
RSI of 59
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The upkick yesterday, is heading to test a resistance at 0.64, then 0.70
Trading Strategy
Buy. Stop loss is at 0.56
Source:Jupiter Securities Research 12 March 2012
Description
Water, sewerage services
Resistance : 0.64 0.70
Support : 0.56
RSI of 59
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The upkick yesterday, is heading to test a resistance at 0.64, then 0.70
Trading Strategy
Buy. Stop loss is at 0.56
Source:Jupiter Securities Research 12 March 2012
Stock Overview - JASKITA - Mac 2012
JASKITA ( 8648 : 0.16 ) : Targeting 0.20
Description
Resistance : 0.20
Support : 0.145
RSI of 59
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
While it may be consolidating, it is expected to head higher to 0.20
Trading Strategy
Buy. Stop loss is at 0.145
Source:Jupiter Securities Research 12 March 2012
Description
Resistance : 0.20
Support : 0.145
RSI of 59
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
While it may be consolidating, it is expected to head higher to 0.20
Trading Strategy
Buy. Stop loss is at 0.145
Source:Jupiter Securities Research 12 March 2012
Stock Overview - CAB - 12 Mac 2012
CAB ( 7174 : 0.44 ) : Targeting 0.54
Description
Poultry
Resistance : 0.54
Support : 0.39
RSI of 64
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The upkick yesterday, is heading to test a resistance at 0.54
Trading Strategy
Buy. Stop loss is at 0.39
Source:Jupiter Securities Research 12 March 2012
Description
Poultry
Resistance : 0.54
Support : 0.39
RSI of 64
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The upkick yesterday, is heading to test a resistance at 0.54
Trading Strategy
Buy. Stop loss is at 0.39
Source:Jupiter Securities Research 12 March 2012
Daily Summary - 12 Mac 2012
YOUR MORNING COFFEE – Monday 12/3/2012
SUMMARY
Wall St closed 0.1% higher, as private Greek bond holders accepted a plan to restructure. And US unemployment remained at 8.3%, with
227,000 jobs added in February, higher than expected.
Dow of 12,922, is targeting 13,279. Previous high is 14,198. RSI of 55, is on a spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
Dollar Index is higher at 79.9. Upside is at 81.0.
Crude oil is higher at USD107.4. Support is at 101.0.
Dollar yen is higher at 82.4 yen. Resistance is at 83.1.
Euro/dollar is lower at 1.312. Support is at 1.297.
Gold is higher at USD1711. Downside is at 1625.
Shanghai closed higher at 2,439.
Singapore STI closed lower at 2,963.
Ringgit is weaker at 3.019. Support is at 3.110.
S’pore ringgit is lower at 2.396. Resistance is at 2.430
Malaysian market closed higher at 1579. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609.
Support is at 1566. RSI of 63, is weakening. Today’s range is between 1576 and 1586.
CPO April futures is higher at RM3357. Resistance is at 3384.
Trading : LEESK ( 8079 : 0.20 ) : Targeting 0.28, SALCON ( 8567 : 0.56 ) : Targeting 0.64, CAB ( 7174 : 0.42 ) : Targeting 0.54, JASKITA ( 8648 : 0.16 ) : Targeting 0.20
Source:Jupiter Securities Research 12 March 2012
SUMMARY
Wall St closed 0.1% higher, as private Greek bond holders accepted a plan to restructure. And US unemployment remained at 8.3%, with
227,000 jobs added in February, higher than expected.
Dow of 12,922, is targeting 13,279. Previous high is 14,198. RSI of 55, is on a spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
Dollar Index is higher at 79.9. Upside is at 81.0.
Crude oil is higher at USD107.4. Support is at 101.0.
Dollar yen is higher at 82.4 yen. Resistance is at 83.1.
Euro/dollar is lower at 1.312. Support is at 1.297.
Gold is higher at USD1711. Downside is at 1625.
Shanghai closed higher at 2,439.
Singapore STI closed lower at 2,963.
Ringgit is weaker at 3.019. Support is at 3.110.
S’pore ringgit is lower at 2.396. Resistance is at 2.430
Malaysian market closed higher at 1579. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609.
Support is at 1566. RSI of 63, is weakening. Today’s range is between 1576 and 1586.
CPO April futures is higher at RM3357. Resistance is at 3384.
Trading : LEESK ( 8079 : 0.20 ) : Targeting 0.28, SALCON ( 8567 : 0.56 ) : Targeting 0.64, CAB ( 7174 : 0.42 ) : Targeting 0.54, JASKITA ( 8648 : 0.16 ) : Targeting 0.20
Source:Jupiter Securities Research 12 March 2012
Thursday 8 March 2012
Stock Overview - VERSATL - 9 MAc 2012
VERSATL ( 4995 : 0.42 ) : Targeting 0.48
Description
Containers and packaging
Resistance : 0.48 0.51
Support : 0.39
RSI of 56
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The current upward push is likely to test 0.48
Trading Strategy
Buy. Stop loss is at 0.39
Source:Jupiter Securities Research 9 March 2012
Description
Containers and packaging
Resistance : 0.48 0.51
Support : 0.39
RSI of 56
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The current upward push is likely to test 0.48
Trading Strategy
Buy. Stop loss is at 0.39
Source:Jupiter Securities Research 9 March 2012
Stock Overview - NICORP - 9 Mac 2012
NICORP ( 4464 : 0.63 ) : Buy below 0.60
Description
Property and logging
Resistance : 0.75
Support : 0.56 0.60
RSI of 68
RSI is overbought
STOCHASTIC
It is turning down
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is heading for 0.75. A pullback to 0.60 is likely, due to the overbought Stochastic
Trading Strategy
Buy below 0.60. Stop loss is at 0.56
Source:Jupiter Securities Research 9 March 2012
Description
Property and logging
Resistance : 0.75
Support : 0.56 0.60
RSI of 68
RSI is overbought
STOCHASTIC
It is turning down
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is heading for 0.75. A pullback to 0.60 is likely, due to the overbought Stochastic
Trading Strategy
Buy below 0.60. Stop loss is at 0.56
Source:Jupiter Securities Research 9 March 2012
Stock Overview - CBSA- 9 Mac 2012
CBSA ( 0041 : 0.445 ) : Targeting 0.60
Description
IT services
Resistance : 0.49 0.60
Support : 0.43
RSI of 60
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The consolidation breakout yesterday, needs to overcome the immediate resistance at 0.49, for it to target 0.60
Trading Strategy
Buy. Stop loss is at 0.43
Source:Jupiter Securities Research 9 March 2012
Description
IT services
Resistance : 0.49 0.60
Support : 0.43
RSI of 60
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The consolidation breakout yesterday, needs to overcome the immediate resistance at 0.49, for it to target 0.60
Trading Strategy
Buy. Stop loss is at 0.43
Source:Jupiter Securities Research 9 March 2012
Daily Summary - 9 Mac 2012
YOUR MORNING COFFEE – Friday 9/3/2012
Source:Jupiter Securities Research 9 March 2012
SUMMARY
- Wall St closed 0.5% higher, as private bond holders are on the verge of accepting a debt swap agreement for Greece. Latest indication points to 85% acceptance. Weekly initial jobless claims rose to 362,000, higher than expected. There is the employment figure this Friday, which is expected to show 210,000 jobs added in February.
- Dow of 12,907, is targeting 13,279. Previous high is 14,198. RSI of 54, is on a spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
- Dollar Index is lower at 79.1. Downside is at 78.7.
- Crude oil is higher at USD106.5. Support is at 101.0.
- Dollar yen is higher at 81.5 yen. Support is at 78.9.
- Euro/dollar is higher at 1.326. Support is at 1.297.
- Gold is higher at USD1683. Downside is at 1625.
- Shanghai closed higher at 2,420.
- Singapore STI closed higher at 2,966.
- Ringgit is firmer at 3.007. Support is at 3.110.
- S’pore ringgit is higher at 2.401. Resistance is at 2.430
- Malaysian market closed higher at 1578. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1566. RSI of 62, is weakening. Today’s range is between 1576 and 1590.
- CPO April futures is higher at RM3302. Resistance is at 3384.
- Trading : CBSA ( 0041 : 0.445 ) : Targeting 0.60, ECM ( 2143 : 0.88 ) : Targeting 1.00, NICORP ( 4464 : 0.63 ) : Buy below 0.60, VERSATL ( 4995 : 0.42 ) : Targeting 0.48
Source:Jupiter Securities Research 9 March 2012
Stock Overview - ECM - 9 Mac 2012
ECM ( 2143 : 0.88 ) : Targeting 1.00
Description
Resistance : 1.00 1.13
Support : 0.85
RSI of 68
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The consolidation breakout yesterday, is heading for a retest on the 1.00 level
Trading Strategy
Buy. Stop loss is at 0.85
Source:Jupiter Securities Research 9 March 2012
Description
Resistance : 1.00 1.13
Support : 0.85
RSI of 68
RSI is on the rise
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
The consolidation breakout yesterday, is heading for a retest on the 1.00 level
Trading Strategy
Buy. Stop loss is at 0.85
Source:Jupiter Securities Research 9 March 2012
Wednesday 7 March 2012
Stock Overview - SILVER - 8 Mar 2012
SILVER ( 7136 : 0.22 ) : Targeting 0.28
Description
Resistance : 0.28 0.33
Support : 0.19
RSI of 28
RSI is oversold, and rebounding
STOCHASTIC
It has started to recover, from its oversold level
TREND INDICATOR
Comment
The sharp upkick yesterday, is heading for 0.28. A tight stop loss should be placed at 0.19
Trading Strategy
Buy. Stop loss is at 0.19
Source: Jupiter Securities Research 8 March 2012
Description
Resistance : 0.28 0.33
Support : 0.19
RSI of 28
RSI is oversold, and rebounding
STOCHASTIC
It has started to recover, from its oversold level
TREND INDICATOR
Comment
The sharp upkick yesterday, is heading for 0.28. A tight stop loss should be placed at 0.19
Trading Strategy
Buy. Stop loss is at 0.19
Source: Jupiter Securities Research 8 March 2012
Stock Overview - PUNCAK - 8 Mar 2012
PUNCAK ( 6807 : 1.43 ) : Stop loss 1.39
Description
Resistance : 1.49 1.64
Support : 1.39
RSI of 51
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
While the upside target of 1.64 remains intact due to positive technicals, a tight stop loss should be placed at yesterday’s low of 1.39, which marks the 61.8% pullback level
Trading Strategy
Buy. Stop loss is at 1.39
Source: Jupiter Securities Research 8 March 2012
Description
Resistance : 1.49 1.64
Support : 1.39
RSI of 51
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
While the upside target of 1.64 remains intact due to positive technicals, a tight stop loss should be placed at yesterday’s low of 1.39, which marks the 61.8% pullback level
Trading Strategy
Buy. Stop loss is at 1.39
Source: Jupiter Securities Research 8 March 2012
Stock Overview - KEYWEST - 8 Mar 2012
KEYWEST ( 0095 : 0.20 ) : Targeting 0.25
Description
Telecommunications services provider
Resistance : 0.25 0.34
Support : 0.175
RSI of 61
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
Upside target is at 0.25
Trading Strategy
Buy. Stop loss is at 0.165
Source: Jupiter Securities Research 8 March 2012
Description
Telecommunications services provider
Resistance : 0.25 0.34
Support : 0.175
RSI of 61
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
Upside target is at 0.25
Trading Strategy
Buy. Stop loss is at 0.165
Source: Jupiter Securities Research 8 March 2012
Stock Overview - HWGB - 8 Mar 2012
HWGB ( 9601 : 0.46 ) : Targeting 0.54
Description
Resistance : 0.54 0.63
Support : 0.43
RSI of 67
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
While the upside target of 0.54 remains intact due to rising volume and positive technicals, a tight stop loss should be placed at 0.43
Trading Strategy
Buy. Stop loss is at 0.43
Source: Jupiter Securities Research 8 March 2012
Description
Resistance : 0.54 0.63
Support : 0.43
RSI of 67
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
While the upside target of 0.54 remains intact due to rising volume and positive technicals, a tight stop loss should be placed at 0.43
Trading Strategy
Buy. Stop loss is at 0.43
Source: Jupiter Securities Research 8 March 2012
Daily Summary - 8 Mar 2012
YOUR MORNING COFFEE – Thursday 8/3/2012
SUMMARY
· Wall St closed 0.7% higher, due to positive data. Private sector added 216,000 jobs in February, according to ADP. Consumer credit rose by USD17.8bln in January. There is the employment figure this Friday.
· Dow of 12,837, is targeting 13,279. Previous high is 14,198. RSI of 49, is on a small spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
· Dollar Index is lower at 79.7. Resistance is at 80.3.
· Crude oil is higher at USD106.1. Support is at 101.0.
· Dollar yen is higher at 81.2 yen. Support is at 78.9.
· Euro/dollar is higher at 1.314. Support is at 1.297.
· Gold is higher at USD1683. Downside is at 1625.
· Shanghai closed lower at 2,394.
· Singapore STI closed lower at 2,914.
· Ringgit is firmer at 3.027. Support is at 3.110.
· S’pore ringgit is higher at 2.401. Resistance is at 2.430
· Malaysian market closed lower at 1574. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1566. RSI of 62, is weakening. Today’s range is between 1570 and 1580.
· CPO April futures is higher at RM3252. Support is at 3023.
· Trading : HWGB ( 9601 : 0.46 ) : Targeting 0.54, PUNCAK ( 6807 : 1.43 ) : Stop loss 1.39, KEYWEST ( 0095 : 0.20 ) : Targeting 0.25, SILVER ( 7136 : 0.22 ) : Targeting 0.28
Source:Jupiter Securities Research 08 March 2012
SUMMARY
· Wall St closed 0.7% higher, due to positive data. Private sector added 216,000 jobs in February, according to ADP. Consumer credit rose by USD17.8bln in January. There is the employment figure this Friday.
· Dow of 12,837, is targeting 13,279. Previous high is 14,198. RSI of 49, is on a small spike up, indicating a likely retest on the 13,000 level. Caution is on the key support 12,670, which will be negative if breached.
· Dollar Index is lower at 79.7. Resistance is at 80.3.
· Crude oil is higher at USD106.1. Support is at 101.0.
· Dollar yen is higher at 81.2 yen. Support is at 78.9.
· Euro/dollar is higher at 1.314. Support is at 1.297.
· Gold is higher at USD1683. Downside is at 1625.
· Shanghai closed lower at 2,394.
· Singapore STI closed lower at 2,914.
· Ringgit is firmer at 3.027. Support is at 3.110.
· S’pore ringgit is higher at 2.401. Resistance is at 2.430
· Malaysian market closed lower at 1574. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1566. RSI of 62, is weakening. Today’s range is between 1570 and 1580.
· CPO April futures is higher at RM3252. Support is at 3023.
· Trading : HWGB ( 9601 : 0.46 ) : Targeting 0.54, PUNCAK ( 6807 : 1.43 ) : Stop loss 1.39, KEYWEST ( 0095 : 0.20 ) : Targeting 0.25, SILVER ( 7136 : 0.22 ) : Targeting 0.28
Source:Jupiter Securities Research 08 March 2012
Tuesday 6 March 2012
Stock Overview - TECFAST - 7 Mar 2012
TECFAST ( 0084 : 0.145 ) : Targeting 0.16
Description
Resistance : 0.16 0.19
Support : 0.12
RSI of 69
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading for 0.16, and possibly 0.19
Trading Strategy
Buy. Stop loss is at 0.12
Source: Jupiter Securities Research 7 March 2012
Description
Resistance : 0.16 0.19
Support : 0.12
RSI of 69
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
Following the consolidation breakout, it is heading for 0.16, and possibly 0.19
Trading Strategy
Buy. Stop loss is at 0.12
Source: Jupiter Securities Research 7 March 2012
Stock Overview - PADINI - 7 Mar 2012
PADINI ( 7052 : 1.48 ) : Stop loss 1.35
Description
Resistance : 1.83
Support : 1.35
RSI of 78
RSI is overbought
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
The current uptrend has an upside of 1.83. A tight stop loss should be placed at 1.35
Trading Strategy
Buy. Stop loss is at 1.35
Source: Jupiter Securities Research 7 March 2012
Description
Resistance : 1.83
Support : 1.35
RSI of 78
RSI is overbought
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
The current uptrend has an upside of 1.83. A tight stop loss should be placed at 1.35
Trading Strategy
Buy. Stop loss is at 1.35
Source: Jupiter Securities Research 7 March 2012
Stock Overview - MUDAJYA - 7 Mar 2012
MUDAJYA ( 5085 : 2.94 ) : Targeting 3.22
Description
Resistance : 3.22
Support : 2.79
RSI of 63
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
The current resumption off the low of 2.79, is heading for 3.22. Downside is limited to a pullback support of 2.86
Trading Strategy
Buy. Stop loss is at 2.79
Source: Jupiter Securities Research 7 March 2012
Description
Resistance : 3.22
Support : 2.79
RSI of 63
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
The current resumption off the low of 2.79, is heading for 3.22. Downside is limited to a pullback support of 2.86
Trading Strategy
Buy. Stop loss is at 2.79
Source: Jupiter Securities Research 7 March 2012
Stock Overview - GOCEAN - 7 Mar 2012
GOCEAN ( 0074 : 0.305 ) : Targeting 0.42
Description
Resistance : 0.42
Support : 0.17 0.25
RSI of 68
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
It has bottomed at the 0.25 low, a 61.8% retracement, indicating a likely push up to 0.42. A tight stop loss should be placed at 0.25
Trading Strategy
Buy. Stop loss is at 0.25
Source: Jupiter Securities Research 7 March 2012
Description
Resistance : 0.42
Support : 0.17 0.25
RSI of 68
RSI is on the rise
STOCHASTIC
It riding on an upswing
TREND INDICATOR
Comment
It has bottomed at the 0.25 low, a 61.8% retracement, indicating a likely push up to 0.42. A tight stop loss should be placed at 0.25
Trading Strategy
Buy. Stop loss is at 0.25
Source: Jupiter Securities Research 7 March 2012
Daily Summary - 7 Mar 2012
YOUR MORNING COFFEE – Wednesday 7/3/2012
SUMMARY
· Wall St closed 1.5% lower, due to rising yields on European bonds, and 0.3% growth contraction of the Q’2011 in Europe. And there is also the employment figure Friday.
· Dow of 12,759, is targeting 13,279. Previous high is 14,198. RSI of 44, is weakening. Caution is on the key support 12,670, which will be negative if breached.
· Dollar Index is higher at 79.8. Resistance is at 80.3.
· Crude oil is lower at USD104.7. Support is at 101.0.
· Dollar yen is lower at 80.8 yen. Support is at 78.9.
· Euro/dollar is lower at 1.311. Support is at 1.297.
· Gold is lower at USD1672. Downside is at 1625.
· Shanghai closed lower at 2,410.
· Singapore STI closed lower at 2,933.
· Ringgit is weaker at 3.036. Support is at 3.110.
· S’pore ringgit is lower at 2.393. Support is at 2.370
· Malaysian market closed higher at 1589. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1579. RSI of 74, is overbought. Today’s range is between 1580 and 1590.
· CPO April futures is higher at RM3252. Support is at 3023.
· Trading : TECFAST ( 0084 : 0.145 ) : Targeting 0.16, PADINI ( 7052 : 1.48 ) : Stop loss 1.35, MUDAJYA ( 5085 : 2.94 ) : Targeting 3.22, GOCEAN ( 0074 : 0.305 ) : Targeting 0.42
Source: Jupiter Securities Research 7 March 2012
SUMMARY
· Wall St closed 1.5% lower, due to rising yields on European bonds, and 0.3% growth contraction of the Q’2011 in Europe. And there is also the employment figure Friday.
· Dow of 12,759, is targeting 13,279. Previous high is 14,198. RSI of 44, is weakening. Caution is on the key support 12,670, which will be negative if breached.
· Dollar Index is higher at 79.8. Resistance is at 80.3.
· Crude oil is lower at USD104.7. Support is at 101.0.
· Dollar yen is lower at 80.8 yen. Support is at 78.9.
· Euro/dollar is lower at 1.311. Support is at 1.297.
· Gold is lower at USD1672. Downside is at 1625.
· Shanghai closed lower at 2,410.
· Singapore STI closed lower at 2,933.
· Ringgit is weaker at 3.036. Support is at 3.110.
· S’pore ringgit is lower at 2.393. Support is at 2.370
· Malaysian market closed higher at 1589. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1579. RSI of 74, is overbought. Today’s range is between 1580 and 1590.
· CPO April futures is higher at RM3252. Support is at 3023.
· Trading : TECFAST ( 0084 : 0.145 ) : Targeting 0.16, PADINI ( 7052 : 1.48 ) : Stop loss 1.35, MUDAJYA ( 5085 : 2.94 ) : Targeting 3.22, GOCEAN ( 0074 : 0.305 ) : Targeting 0.42
Source: Jupiter Securities Research 7 March 2012
Monday 5 March 2012
Stock Overview - POS - 6 Mar 2012
POS ( 4634 : 2.66 ) : Targeting 2.92
Description
Resistance : 2.92 3.10
Support : 2.60
RSI of 42
RSI is starting to stabilise
STOCHASTIC
It is on a positive divergence
TREND INDICATOR
Comment
With the downside limited to the lower trendline of 2.60, it is likely to head higher to 2.92
Trading Strategy
Buy. Stop loss is at 2.60
Source:Jupiter Securities Research 6 March 2012
Description
Resistance : 2.92 3.10
Support : 2.60
RSI of 42
RSI is starting to stabilise
STOCHASTIC
It is on a positive divergence
TREND INDICATOR
Comment
With the downside limited to the lower trendline of 2.60, it is likely to head higher to 2.92
Trading Strategy
Buy. Stop loss is at 2.60
Source:Jupiter Securities Research 6 March 2012
Stock Overview - LATEXX - 6 Mar 2012
LATEXX ( 7064 : 1.58 ) : Targeting 1.80
Description
Resistance : 1.83
Support : 1.50
RSI of 32
RSI is recovering
STOCHASTIC
It has started to turn upwards
TREND INDICATOR
Comment
The consolidation breakout yesterday, is targeting 1.80.
Trading Strategy
Buy. Stop loss is at 1.50
Description
Resistance : 1.83
Support : 1.50
RSI of 32
RSI is recovering
STOCHASTIC
It has started to turn upwards
TREND INDICATOR
Comment
The consolidation breakout yesterday, is targeting 1.80.
Trading Strategy
Buy. Stop loss is at 1.50
Stock Overview - JOHOTIN - 6 Mar 2012
JOHOTIN ( 7167 : 0.955 ) : Targeting 1.18
Description
Tin containers
Resistance : 1.18
Support : 0.91
RSI of 73
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is likely to head higher to 1.18. Trading Strategy
Buy. Stop loss is at 0.91
Source:Jupiter Securities Research 6 March 2012
Description
Tin containers
Resistance : 1.18
Support : 0.91
RSI of 73
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is likely to head higher to 1.18. Trading Strategy
Buy. Stop loss is at 0.91
Source:Jupiter Securities Research 6 March 2012
Stock Overview - FABER - 6 Mar 2012
FABER ( 1368 : 1.86 ) : Targeting 2.03
Description
Hotel management
Resistance : 2.03
Support : 1.70
RSI of 60
RSI is on a rebound
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is likely to head higher to 2.03 Trading Strategy Buy. Stop loss is at 1.70
Source:Jupiter Securities Research 6 March 2012
Description
Hotel management
Resistance : 2.03
Support : 1.70
RSI of 60
RSI is on a rebound
STOCHASTIC
It is riding on an upswing
TREND INDICATOR
Comment
Following the recent consolidation breakout, it is likely to head higher to 2.03 Trading Strategy Buy. Stop loss is at 1.70
Source:Jupiter Securities Research 6 March 2012
Daily Summary - 6 Mar 2012
YOUR MORNING COFFEE – Tuesday 6/3/2012
SUMMARY
· Wall St closed 0.1% lower, after China lowered its growth target to 7.5%, from 8%. US ISM services index rose to 57.3, higher than expected. Factory orders in January dropped 1%, less than expected.
· Dow of 12,962, is targeting 13,279. Previous high is 14,198. Caution is on the key support 12,670, which will be negative if breached. RSI of 61, is showing early sign of weakness.
· Dollar Index is lower at 79.3. Resistance is at 80.3.
· Crude oil is higher at USD106.7. Resistance is at 114.0.
· Dollar yen is higher at 81.5 yen. Resistance is at 82.2.
· Euro/dollar is higher at 1.322. Support is at 1.310.
· Gold is lower at USD1704. Downside is at 1625.
· Shanghai closed lower at 2,445.
· Singapore STI closed lower at 2,990.
· Ringgit is weaker at 3.013. Support is at 3.110.
· S’pore ringgit is lower at 2.397. Support is at 2.370
· Malaysian market closed higher at 1589. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1579. RSI of 73, is rebounding. Today’s range is between 1584 and 1594.
· CPO April futures is lower at RM3239. Support is at 3023.
· Trading : LATEXX ( 7064 : 1.58 ) : Targeting 1.80, JOHOTIN ( 7167 : 0.955 ) : Targeting 1.18, FABER ( 1368 : 1.86 ) : Targeting 2.03, POS ( 4634 : 2.66 ) : Targeting 2.92
Source:Jupiter Securities Research 6 March 2012
SUMMARY
· Wall St closed 0.1% lower, after China lowered its growth target to 7.5%, from 8%. US ISM services index rose to 57.3, higher than expected. Factory orders in January dropped 1%, less than expected.
· Dow of 12,962, is targeting 13,279. Previous high is 14,198. Caution is on the key support 12,670, which will be negative if breached. RSI of 61, is showing early sign of weakness.
· Dollar Index is lower at 79.3. Resistance is at 80.3.
· Crude oil is higher at USD106.7. Resistance is at 114.0.
· Dollar yen is higher at 81.5 yen. Resistance is at 82.2.
· Euro/dollar is higher at 1.322. Support is at 1.310.
· Gold is lower at USD1704. Downside is at 1625.
· Shanghai closed lower at 2,445.
· Singapore STI closed lower at 2,990.
· Ringgit is weaker at 3.013. Support is at 3.110.
· S’pore ringgit is lower at 2.397. Support is at 2.370
· Malaysian market closed higher at 1589. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1579. RSI of 73, is rebounding. Today’s range is between 1584 and 1594.
· CPO April futures is lower at RM3239. Support is at 3023.
· Trading : LATEXX ( 7064 : 1.58 ) : Targeting 1.80, JOHOTIN ( 7167 : 0.955 ) : Targeting 1.18, FABER ( 1368 : 1.86 ) : Targeting 2.03, POS ( 4634 : 2.66 ) : Targeting 2.92
Source:Jupiter Securities Research 6 March 2012
Sunday 4 March 2012
Briefing Note - GW Plastics - 5 Mar 2012
GW PLASTICS HOLDINGS BERHAD
Takeaways from Briefing
Lower FY11 result GW Plastics recorded marginally lower bottomline of RM19.6m in FY11 compared to RM21.0m in FY10, despite a 12% increase in revenue.
Revenue of RM344.1m was due to a 12% increase in overall volume to 46,900MT from increased production capacity of stretch film, additional facilities in new factory block and higher value-add printing. Both local and exports sales recorded growth of 2.4% YoY and 19.4% YoY respectively. The lower earnings were however affected by higher raw material costs (predominantly
resin prices which accounted for over 80% of total raw material costs) in 2011.
Total borrowing rose from RM31.1m in FY10 to RM34.9m for expansion funding. Its net gearing remains comfortable at 0.12x. The group has declared its second interim dividend of 3 sen per share to bring the total dividend for FY11 to 5 sen per share, a decent dividend yield of 7%.
Expanding into printing business GW Plastics had acquired laminating machine with solvent free and solvent based capability. Its machines are the higher end flexographic printers that have lower carbon footprint (a criteria required by developed countries), more costefficient. Currently, the existing players in the region have limited capabilities in solvent free lamination. The expansion allows GW Plastics to grow from its existing surface-printed packaging market and evolve into an integrated flexible packaging provider for blown firm, stretch films and laminated structures. The lamination expansion is expected to commence operation in 3QFY12.
GW Plastics deviates itself from other plastic packaging players in Malaysia by emphasizing in blown film production and specialized in catering food and beverage (F&B) clientele. We view the expansion into solvent free lamination positively. Following a change in consumer habits and the adoption of smaller families for most households, the requirements for flexible packaging in F&B segment will be in demand. Plastics packaging is still the cheapest alternative with longer shelf life for food and beverages. We suggest a fair value of RM0.87 for GFLO, pegging valuation at a forward PE of 6x, a 20% discount of Scientex’s manufacturing segment PE valuation.
Source:Jupiter Securities Research 5 March 2012
Takeaways from Briefing
Lower FY11 result GW Plastics recorded marginally lower bottomline of RM19.6m in FY11 compared to RM21.0m in FY10, despite a 12% increase in revenue.
Revenue of RM344.1m was due to a 12% increase in overall volume to 46,900MT from increased production capacity of stretch film, additional facilities in new factory block and higher value-add printing. Both local and exports sales recorded growth of 2.4% YoY and 19.4% YoY respectively. The lower earnings were however affected by higher raw material costs (predominantly
resin prices which accounted for over 80% of total raw material costs) in 2011.
Total borrowing rose from RM31.1m in FY10 to RM34.9m for expansion funding. Its net gearing remains comfortable at 0.12x. The group has declared its second interim dividend of 3 sen per share to bring the total dividend for FY11 to 5 sen per share, a decent dividend yield of 7%.
Expanding into printing business GW Plastics had acquired laminating machine with solvent free and solvent based capability. Its machines are the higher end flexographic printers that have lower carbon footprint (a criteria required by developed countries), more costefficient. Currently, the existing players in the region have limited capabilities in solvent free lamination. The expansion allows GW Plastics to grow from its existing surface-printed packaging market and evolve into an integrated flexible packaging provider for blown firm, stretch films and laminated structures. The lamination expansion is expected to commence operation in 3QFY12.
GW Plastics deviates itself from other plastic packaging players in Malaysia by emphasizing in blown film production and specialized in catering food and beverage (F&B) clientele. We view the expansion into solvent free lamination positively. Following a change in consumer habits and the adoption of smaller families for most households, the requirements for flexible packaging in F&B segment will be in demand. Plastics packaging is still the cheapest alternative with longer shelf life for food and beverages. We suggest a fair value of RM0.87 for GFLO, pegging valuation at a forward PE of 6x, a 20% discount of Scientex’s manufacturing segment PE valuation.
Source:Jupiter Securities Research 5 March 2012
Stock Overview - TIMECOM - 5 Mar 2012
TIMECOM ( 5031 : 0.75 ) : Targeting 0.82
Description
Resistance : 0.82
Support : 0.72
RSI of 64
RSI is on the rise
STOCHASTIC
It is on an up swing
TREND INDICATOR
Comment
The current upkick is heading for 0.82
Trading Strategy
Buy. Stop loss is at 0.72
Source: Jupiter Securities Research 5 March 2012
Description
Resistance : 0.82
Support : 0.72
RSI of 64
RSI is on the rise
STOCHASTIC
It is on an up swing
TREND INDICATOR
Comment
The current upkick is heading for 0.82
Trading Strategy
Buy. Stop loss is at 0.72
Source: Jupiter Securities Research 5 March 2012
Stock Overview - MUDAJYA - 5 Mar 2012
MUDAJYA ( 5085 : 2.84 ) : Targeting 3.18
Description
Resistance : 3.18
Support : 2.66
RSI of 56
RSI is neutral
STOCHASTIC
It has started to turn upwards
TREND INDICATOR
Comment
The recent sell down is ending as technicals have started to turn upwards from the oversold levels
Trading Strategy
Buy. Stop loss is at 2.66
Source: Jupiter Securities Research 5 March 2012
Description
Resistance : 3.18
Support : 2.66
RSI of 56
RSI is neutral
STOCHASTIC
It has started to turn upwards
TREND INDICATOR
Comment
The recent sell down is ending as technicals have started to turn upwards from the oversold levels
Trading Strategy
Buy. Stop loss is at 2.66
Source: Jupiter Securities Research 5 March 2012
Stock Overview - DATAPRP - 5 Mar 2012
DATAPRP ( 8338 : 0.37 ) : Targeting 0.44
Description
Resistance : 0.44
Support : 0.35
RSI of 48
RSI is neutral
STOCHASTIC
It has started to turn upwards
TREND INDICATOR
Comment
The recent sell down is ending as technicals have started to turn upwards from the oversold levels
Trading Strategy
Buy. Stop loss is at 0.35
Source: Jupiter Securities Research 5 March 2012
Description
Resistance : 0.44
Support : 0.35
RSI of 48
RSI is neutral
STOCHASTIC
It has started to turn upwards
TREND INDICATOR
Comment
The recent sell down is ending as technicals have started to turn upwards from the oversold levels
Trading Strategy
Buy. Stop loss is at 0.35
Source: Jupiter Securities Research 5 March 2012
Stock Overview - AXIATA - 5 Mar 2012
AXIATA ( 6888 : 5.18 ) : Stop loss 5.06
Description
Resistance : 5.40-5.50
Support : 5.06
RSI of 67
RSI is steady
STOCHASTIC
It is on an up swing
TREND INDICATOR
Comment
The current uptrend is heading for 5.40. A tight stop loss should be placed at 5.06
Trading Strategy
Buy. Stop loss is at 5.06
Source: Jupiter Securities Research 5 March 2012
Description
Resistance : 5.40-5.50
Support : 5.06
RSI of 67
RSI is steady
STOCHASTIC
It is on an up swing
TREND INDICATOR
Comment
The current uptrend is heading for 5.40. A tight stop loss should be placed at 5.06
Trading Strategy
Buy. Stop loss is at 5.06
Source: Jupiter Securities Research 5 March 2012
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