Technical stock picks table - 31 May 2012

Thursday, 31 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012
0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend, Take profit at 2.00
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 31 May 2012

Stock Overview - PUNCAK - 31 May 2012

PUNCAK ( 6807 : 1.33 ) : Targeting 1.57/Stop loss 1.26

Description

Resistance : 1.57
Support : 1.30

RSI of 52
RSI is on the rise

STOCHASTIC
It is oversold

Comment
The consolidation breakout is targeting 1.57

Trading Strategy
Buy. Stop loss is at 1.26

Source:Jupiter Securities Research 31 May 2012

Stock Overview - MAS - 31 May 2012

MAS ( 3786 : 1.16 ) : Targeting 1.30/Stop loss 1.08

Description

Resistance : 1.30 1.40
Support : 1.13

RSI of 53
RSI is on the rise

STOCHASTIC
It is overbought

Comment
The current run up is targeting 1.30-1.40

Trading Strategy
Buy. Stop loss is at 1.08

Source:Jupiter Securities Research 31 May 2012

Stock Overview - GENM - 31 May 2012

GENM ( 4715 : 3.84 ) : Take profit

Description

Resistance : 3.85
Support : 3.76

RSI of 58
RSI is on the rise

STOCHASTIC
It is overbought

Comment
On the buy of 18/5/2012, we are recommending to take profit as technicals are now approaching
overbought.

Trading Strategy
Take profit

Source:Jupiter Securities Research 31 May 2012

Daily Summary - 31 May 2012

YOUR MORNING COFFEE – Thursday 31/5/2012

SUMMARY

• Wall St closed 1.3% lower, on concerns over the health of Spanish banks, and the European debt crisis. Focus is on this Friday’s job number, which is expected to show 155,000 jobs added in May.
• Dow of 12,419 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 35, is rising. Upside is at 12,940.
• DOLLAR INDEX is higher at 83.0. Resistance is at 85.0.
• Crude oil is lower at USD87.8. Support is at 84.0.
• Dollar yen is lower at 79.0 yen. Upside is at 81.2.
• Euro/dollar is lower at 1.237. Support is at 1.220.
• Gold is higher at USD1564. Upside is at 1700.
• Shanghai closed lower at 2,384.
• Singapore STI closed lower at 2,790.
• Ringgit is weaker at 3.185. Downside is at 3.200.
• S’pore ringgit is higher at 2.469. Upside is at 2.481.
• Malaysian market closed higher 1575. On the Daily chart, it is in for a technical rebound to 1590, due to the oversold technicals. RSI of 52, has started to recover. Stochastic has started to turn upwards. Today’s range is between 1570 and 1580.
• CPO July futures is lower at RM3130. Support is at 3000.
• Trading : MAS ( 3786 : 1.16 ) : Targeting 1.30/Stop loss 1.08, PUNCAK ( 6807 : 1.35 ) : Targeting 1.57/Stop loss 1.30, GENM ( 4715 : 3.84 ) : Take profit

Source:Jupiter Securities Research 31 May 2012

Technical stock picks table - 30 May 2012

Wednesday, 30 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout
Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout
Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012,Sell:14/5/2012
7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold
Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag
Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold
Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag
Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold
Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold
Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend, Take profit at 2.00
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012, 1.83 2.38 Small downside
GENM (4715/3.58), Buy: 18/5/2012 3.50 3.93-3.97 Technical rebound, oversold
MRCB (1651/1.58), Buy: 18/5/2012 1.46 1.82-1.90 Technical rebound, oversold
BIMB (5258/2.42), Buy: 18/5/2012, Sell:29/5/2012, 2.27 2.58 Technical rebound, oversold, Take profit at 2.60
MISC (3816/4.23), Buy: 21/5/2012 4.00 4.60 Correction ended at 3.92
MFLOUR (3662/1.45), Buy: 22/5/2012 1.32 1.70,1.82 Technical rebound, oversold
PERWAJA (5146/0.575), Buy: 22/5/2012 0.52 0.69 Technical rebound, oversold
PERDANA (7108/0.50), Buy: 22/5/2012 0.47 0.58,0.64 Technical rebound, oversold
CRESBLD (8591/1.08), Buy: 23/5/2012, Sell:25/5/2012, 1.04 1.30 Uprun, Stop out at 1.04
BSTEAD (2771/4.98), Buy: 23/5/2012 4.86 5.44,5.54 Technical rebound, oversold
TA (4898/0.54), Buy: 24/5/2012 0.51 0.62,0.72 RSI positive divergence
UNISEM (5005/1.28), Buy: 24/5/2012 1.22 1.44,1.49 Technical rebound, oversold
YTLLAND (2577/0.975), Buy below 0.96:24/5/2012, 0.93 1.12 Technical rebound, oversold
KNM (7164/0.76), Buy: 24/5/2012 0.72 0.84,0.88 Technical rebound, oversold
CBIP (7076/2.54) Buy: 25/5/2012 2.44 2.80 Technical rebound, oversold
KPSCB (9121/0.39), Buy: 25/5/2012 0.37 0.48 Technical rebound, oversold
BRAHIMS (9474/1.20), Buy: 25/5/2012 1.14 1.40 Technical rebound, oversold
SMI (4375/0.27), Avoid:29/5/2012 0.24 Pullback
DIGI (6947/3.95), Buy: 29/5/2012 3.89 4.20 Technical rebound, oversold
PERMAJU (7080/0.84), Buy: 29/5/2012 0.80 1.02 Double bottom
LEESK (8079/0.145), Buy: 30/5/2012 0.125 0.19 Technical rebound, oversold
SBCCORP (5207/0.93), Buy: 30/5/2012 0.86 1.00 Technical rebound, oversold
E&O (3417/1.43), Buy: 30/5/2012 1.38 1.53 Technical rebound, oversold

Source:Jupiter Securities Research 30 May 2012

Morning Coffee - 30 May 2012

MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Rise on Greece Optimism; Oil Erases Advance- amid speculation Greece will stay in the euro after polls showed voters supporting politicians who back the nation’s bailout. Commodities erased earlier gains while Treasuries were little changed. The Dow Jones industrial average rose 1.01 percent, to 12,580.69. The S&P 500 Index added 1.11 percent, to 1,332.42.

European Stocks Advance as U.S. House Prices Stabilize: European stocks advanced for the third time in four days as data showing the U.S. housing market is stabilizing outweighed a report that China has no intention of introducing large-scale stimulus. The U.K.’s FTSE 100 increased 0.7 percent, Germany’s DAX gained 1.2 percent and France’s CAC 40 advanced 1.4 percent.

Oil Trades Near Weekly Low as U.S. Supplies Seen Rising: Oil traded near the lowest settlement in almost a week in New York before a government report that may show crude stockpiles climbed to the highest level since 1990 in the U.S., the world’s biggest consumer of the commodity. On the New York Mercantile Exchange, July crude fell 10 cents, or 0.11 percent, to settle at $90.76 a barrel, having traded from $90.25 to $92.21.

CORPORATE NEWS
SP Setia targets 50% overseas sales in 5 years: Besides Malaysia, SP Setia has projects in Vietnam, Singapore and Indonesia and is now exploring opportunities in Melbourne and London.

Supermax hopes for stronger dollar: expects to see better margins if the US dollar continues to strengthen in the currency market, it depends on how volatile the currency is. Obviously, the strengthening of the dollar against the ringgit is good for exports. Most of our industry is export-oriented," Thai said at Invest Malaysia 2012 here yesterday.

-SunBiz

DRB-Hicom earnings soar: net profit jumped a whopping 1,306% to RM1.02bil for the fourth quarter ended March 31 due to recognition of negative goodwill of RM971.52mil arising from the acquisition of Proton Holdings Bhd. Genting Plantations Q1 net profit down on softer prices: posted a 16.4% drop in net profit for the first quarter ended March 31 to RM78.8mil due to softer palm product selling prices and higher operating expenditure in the plantation division.

-StarBiz

Benalec gets RM67m job from TNB Fuel: was awarded a RM67.4 million contract of affreightment by
TNB Fuel Services Sdn. Bhd. The contract period will be for a principal of three years starting on May 1, with an option for extension of another two years.

Hong Leong mulls raising stake in Bank of Chengdu: through an initial public offering (IPO), its chief
said. BOC, a Sichuan-based city commercial bank, is planning an IPO on the Shanghai Stock Exchange's Ashare market, as it moves to replenish its capital to boost future growth.

-Btimes


Source:Jupiter Securities Research 30 May 2012

Stock Overview - SBCCORP - 30 May 2012

SBCCORP ( 5207 : 0.93 ) : Targeting 1.00/Stop loss 0.84

Description
Property

Resistance : 1.00
Support : 0.86

RSI of 55
RSI is on the rise

STOCHASTIC
It is recovering

Comment
With oversold technicals, it is due for a technical rebound to 1.00

Trading Strategy
Buy. Stop loss 0.86

Source:Jupiter Securities Research 30 May 2012

Stock Overview - LEESK - 30 May 2012

LEESK ( 8079 : 0.145 ) : Targeting 0.19/Stop loss 0.125

Description
Home & office furnishings

Resistance : 0.19-0.20
Support : 0.13

RSI of 52
RSI is on the rise

STOCHASTIC
It is recovering

Comment
With oversold technicals, it is due for a technical rebound to 0.19-0.20

Trading Strategy
Buy. Stop loss 0.125

Source:Jupiter Securities Research 30 May 2012

Stock Overview - E&O - 30 May 2012

E&O ( 3417 : 1.43 ) : Targeting 1.53/Stop loss 1.38

Description
Property

Resistance : 1.53
Support : 1.38

RSI of 54
RSI is on the rise

STOCHASTIC
It is recovering

Comment
With oversold technicals, it is due for a technical rebound to 1.53

Trading Strategy
Buy. Stop loss 1.38

Source:Jupiter Securities Research 30 May 2012

Stock Overview - BIMB - 30 May 2012

BIMB ( 5258 : 2.55 ) : Take profit

Description
 
Resistance : 2.62
Support : 2.50

RSI of 58
RSI is on the rise

STOCHASTIC
It is overbought

Comment
On our buy of 18/5/2012, we recommend taking profit as the overall technicals are now approaching overbought, and it has hit the 2.58 target

Trading Strategy
Take profit

Source:Jupiter Securities Research 30 May 2012

Daily Summary - 30 May 2012

YOUR MORNING COFFEE – Wednesday 30/5/2012

SUMMARY

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

 Source:Jupiter Securities Research 30 May 2012

Technical stock picks table - 29 May 2012

Tuesday, 29 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold
Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold, CANONE (5105/2.10), Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold,
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend, Take profit at 2.00
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 29 May 2012

Stock Overview - SMI - 29 May 2012

SMI ( 4375 : 0.27 ) : Avoid

Description

Resistance : 0.32
Support : 0.24

RSI of 72
RSI is overbought

STOCHASTIC
It is overbought

Comment
The recent sharp uprun has ended at the high of 0.32 yesterday. It is in for a correction, with support at 0.24

Trading Strategy
Avoid

Source:Jupiter Securities Research 29 May 2012

Stock Overview - PERMAJU - 29 May 2012

PERMAJU ( 7080 : 0.84 ) : Targeting 1.02/Stop loss 0.80

Description

Resistance : 1.02
Support : 0.80

RSI of 58
RSI is recovering

STOCHASTIC
It is recovering

Comment
While hovering at the Double bottom of 0.80, it is expected to test the overhead resistance of 1.02

Trading Strategy
Buy. Stop loss is at 0.80

Source:Jupiter Securities Research 29 May 2012

Stock Overview - DIGI - 29 May 2012

DIGI ( 6947 : 3.95 ) : Targeting 4.20/Stop loss 3.89

Description

Resistance : 4.20
Support : 3.89

RSI of 49
RSI is recovering

STOCHASTIC
It is recovering

Comment
The technical rebound is targeting 4.20

Trading Strategy
Buy. Stop loss is at 3.89

Source:Jupiter Securities Research 29 May 2012

Morning Coffee - 29 May 2012

MARKET ROUNDUP (Source Bloomberg)

European Stocks Are Little Changed; Banks Drop, Rio Rises: following last week’s rally for the region’s equity
benchmark, as a selloff in banks offset Greek opinion polls that eased concern the country will leave the euro. The U.K.’s FTSE 100 gained 0.1 percent, Germany’s DAX dropped 0.3 percent and France’s CAC 40 decreased 0.2 percent.

U.S. financial markets closed on Monday for the Memorial Day holiday.

Oil Climbs a Third Day on U.S. Economic Growth Outlook: Signaling fuel demand may increase in the
world’s biggest crude-consuming nation. Crude for July delivery advanced as much as $1.13 to $91.99 a barrel in electronic trading on the New York Mercantile Exchange. Floor trading was closed yesterday for the
U.S. Memorial Day holiday and transactions will be booked with today’s trades for settlement purposes.


CORPORATE NEWS


FGVH to list on June 28: Source. The world's thirdlargest oil palm plantation operator, will be launching its prospectus on Thursday, with listing targeted for June 28. The retail price is touted to be RM4.65, subject to the final institutional price which will be determined by a bookbuilding exercise (which ends on June 15).

Rashdan resigns from MAS: During his short stint in MAS, Rashdan was in charge of short-haul operations, commercial, finance, corporate finance and strategic procurement units. This includes the purchase of aircraft. Rashdan's latest stint in MAS was his second involvement in restructuring the national air carrier over the last 10 years.

RHBCap posts lower Q1 net profit of RM435m: net profit fell 5% in the first quarter ended March 31, 2012 (Q1, mainly due to the effects of higher restated profits due to application of Malaysia Financial Reporting Standards (MFRS) 139 and lower profit contributions from its corporate and investment banking, retail banking, business banking and global financial banking operations.

-SunBiz

PetChem posts higher profit: net profit for the first quarter ended March 31, 2012, grew 3.4% to RM1.02bil, the group recorded improved operational performance this quarter.

E&O Q4 net profit triples: its net profit for the fourth quarter of its financial year ended March 31 more than triple to RM42.37mil. Attributable to strong sales and higher revenue recognition as well as cost control initiatives. The company has proposed a final dividend of 4.25 sen per share.

Boustead earnings rise 22% on higher revenue: net profit rose to RM144.6mil for the first quarter ended March 31. The only division that saw a deficit was its heavy industries, with a pre-tax loss of RM5.4mil due to losses at the commercial shipbuilding segment and the fact that work on the second-generation patrol vessels have yet to move into full swing. Given its overall positive results, Boustead declared an interim dividend of 7.5 sen for the first quarter.

-StarBiz

Scomi posts RM23m pre-tax profit in Q1: has achieved a profit turnaround for the first quarter ended March 31 2012, thanks to gross margin improving to 24.2 per cent, attributed better earnings to its marine and oilfield services divisions.

BIMB's Q1 pre-tax rises 16.2pc: the higher profitability was increased due to the higher net income growth of 22.2 per cent of RM81.6 million, partly offset by the higher operating overheads of RM46.2 million and higher allowance for impairment on financing and other assets (including provision for contingent liability) of RM12.6 million.

Bumi Armada in joint bid for 4 marginal field deals: On its first quarter results, he said the group posted a net profit of RM89.7 million, up by 9.3 per cent, over the same quarter 2011.However, its revenue fell by 10.9 per cent to RM227.3 million during the period

-Btimes

Source:Jupiter Securities Research 29 May 2012

Daily Summary - 29 May 2012

YOUR MORNING COFFEE – Tuesday 29/5/2012

SUMMARY

• Wall St closed for the Memorial day. Concerns over a possible Greek exit from the eurozone, the contagion effects, and the health of Spanish banks remain. Focus is on this Friday’s job number, which is expected to show 155,000 jobs added in May.
• Dow of 12,454 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 33, is oversold. Upside is at 12,940.
• DOLLAR INDEX is higher at 82.3. Resistance is at 82.8.
• Crude oil is higher at USD90.6. Support is at 88.5.
• Dollar yen is higher at 79.6 yen. Upside is at 81.2.
• Euro/dollar is lower at 1.252. Support is at 1.220.
• Gold is lower at USD1572. Upside is at 1700.
• Shanghai closed higher at 2,361.
• Singapore STI closed higher at 2,788.
• Ringgit is weaker at 3.159. Downside is at 3.200.
• S’pore ringgit is higher at 2.468. Upside is at 2.481.
• Malaysian market closed higher 1554. On the Daily chart, it is in for a technical rebound to 1570, due to the oversold technicals. RSI of 44, has started to recover. Stochastic has started to turn upwards. Today’s range is between 1548 and 1558.
• CPO July futures is higher at RM3152. Support is at 3000.
• Trading : SMI ( 4375 : 0.27 ) : Avoid, DIGI ( 6947 : 3.95 ) : Targeting 4.20/Stop loss 3.89, PERMAJU ( 7080 : 0.84 ) : Targeting 1.02/Stop loss 0.80
• 
  

Source:Jupiter Securities Research 29 May 2012

Technical stock picks table - 28 May 2012

Monday, 28 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87

CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00 

LFECORP (7170/0.145) Buy: 14/5/2012
Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend, Take profit at 2.00
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 28 May 2012

Daily Summary - 28 May 2012

YOUR MORNING COFFEE – Monday 28/5/2012

SUMMARY

• Wall St closed 0.6% lower, due to continuing concerns over a possible Greece exit from the eurozone, the contagion effects, and the Spanish banks. This was despite the 4 year high on the consumer sentiment index of 79.3.
• Dow of 12,454 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 33, is oversold. Upside is at 12,940.
• DOLLAR INDEX is lower at 82.1. Resistance is at 82.8.
• Crude oil is higher at USD90.6. Support is at 88.5.
• Dollar yen is higher at 79.6 yen. Upside is at 81.2.
• Euro/dollar is lower at 1.257. Support is at 1.220.
• Gold is higher at USD1575. Upside is at 1700.
• Shanghai closed lower at 2,333.
• Singapore STI closed lower at 2,772.
• Ringgit is stronger at 3.144. Downside is at 3.200.
• S’pore ringgit is lower at 2.464. Upside is at 2.481.
• Malaysian market closed higher 1551. On the Daily chart, it is in for a technical rebound to 1567, due to the oversold technicals. RSI of 41, has started to recover. Stochastic has started to turn upwards.
• Today’s range is between 1544 and 1558.
• CPO July futures is higher at RM3154. Support is at 3000.
• Trading :

Source:Jupiter Securities Research 28 May 2012

Morning Coffee - 28 May 2012

MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Rise to End S&P 500’s 3-Week Losing Streak: U.S. stocks rose, giving the Standard & Poor’s 500 Index its first weekly rally since April, as investors were lured by the cheapest valuations since November. The S&P 500 climbed 1.7 percent to 1,317.82, extending its 2012 gain to 4.8 percent. The Dow Jones Industrial Average added 85.45 points, or 0.7 percent, to 12,454.83, rebounding from the lowest level since January.

Europe Stocks Post First Weekly Gain in a Month on Values: as China pledged to bolster growth and a three week selloff left the Stoxx Europe 600 Index at its cheapest level since January. The U.K.’s FTSE 100 rose 1.6 percent, France’s CAC 40 gained 1.3 percent and Germany’s DAX rose 1.1 percent.

Asian Stocks Fall for Fourth Week on China, Europe Debt Concerns: on signs China’s economic slowdown is deepening and on concern Europe’s debt crisis will worsen. The benchmark Nikkei 225 Stock Average lost 0.4 percent , after the Bank of Japan refrained from adding more monetary stimulus. Hong Kong’s benchmark Hang Seng Index slipped 1.3 percent.

Oil Rises on U.S. Consumer Confidence, Iran Inspections: on reports showing that U.S. consumer
confidence gained and the United Nations’ atomic agency found evidence Iran boosted its output of
enriched uranium that could be used for a nuclear weapon. Crude oil for July delivery rose 20 cents to
settle at $90.86 a barrel on the New York Mercantile Exchange.

CORPORATE NEWS

Lotus chief's suspension could be related to 5-year transformation plan: Group Lotus plc's chief executive Dany Bahar has been suspended for 14 days pending a probe into a complaint about his conduct by its new owner, DRB-Hicom Bhd.

Kelington's growth momentum to continue: expects the growth momentum to continue through 2012, backed by strong order inflow and growth opportunities in the emerging light-emitting diode (LED) and bioscience industries.

-SunBiz

SP Setia to to buy RM1bil worth of land in Klang Valley, Penang and Iskandar Malaysia yearly: Liew said the remaining landbank would keep the company busy in Iskandar Malaysia in the next 10 to 15 years with a gross development value of RM8bil.

Husni: Govt to keep close watch on MAS- Husni noted that competition was high from aggressive Middle Eastern carriers such as Qatar Airways and Emirates.On the MASAirAsia share swap deal that failed to take off, Husni said the model was not workable.

-StarBiz

Vale to tender out up to US$400m more jobs: with half of the value of those contracts awarded to
Malaysian companies participating in its major US$1.4 billion iron ore terminal and distribution centre project in Lumut, Perak.

CSL, China Post in envelope talks: is believed to be in talks with China Post to supply the postal company with polypropylene envelopes, people familiar with the matter said.

-Btimes

Source:Jupiter Securities Research 28 May 2012

Morning Coffee - 25 May 2012

MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Erase Loss as Europe Offsets China Concern: as Italian Prime Minister Mario Monti said
Greece is likely to stay in the euro and a majority of the region’s leaders support issuing a joint bond, offsetting
earlier concern about a Chinese slowdown.

In the U.S., data showed companies placed fewer orders for computers, machinery and other capital equipment in April for a second month. Manufacturing in the U.S. expanded in May at the slowest pace in three months, indicating the industry that’s spurred the expansion is cooling. The S&P 500 rose 0.1 percent to 1,320.68, reversing a loss of 0.6 percent. The index gained for a fourth day. The Dow Jones Industrial Average added 33.60 points, or 0.3 percent, to 12,529.75. The Nasdaq Composite Index fell 0.4 percent to 2,839.38.

European Stocks Rebound From Biggest Decline in a Month: amid concern recent losses are overdone considering the outlook for company earnings. The U.K.’s FTSE 100 rallied 1.6 percent, Germany’s DAX advanced 0.5 percent and France’s CAC 40 gained 1.2 percent.

Oil Retains Gains on Iran Talks: Oil rebounded from a seven-month low as world powers and Iran struggled to overcome disagreements at their second round of meetings on the country’s nuclear program. Crude for July delivery gained 76 cents to settle at $90.66 a barrel on the New York Mercantile Exchange. It’s the fourth time prices have risen this month.

CORPORATE NEWS

Maybank, CIMB post double-digit growth in Q1:Maybank posted an 18% rise in net profit to RM1.35
billion from RM1.14 billion a year ago, on healthy growth in net interest income and non-interest income while CIMB saw a 10% growth to RM1.01 billion from RM916.5 million previously, driven by outperformance at its regional corporate banking and treasury markets division and
sustained high growth momentum at its Indonesian unit, PT Bank CIMB Niaga TBK.

AEON to expand to Sabah, Sarawak in 3-5 years: The
group is also expected to open a two-level community
shopping centre in Sri Manjung, Perak by year-end, which
would be its 21st shopping centre and 26th general
merchandise store (GMS).

KLK’s Q2 net profit falls 43%: to RM214.9 million from
RM373.9 million a year ago, mainly due to lower
contributions from its plantation, oleochemical and retail
divisions. KLK declared an interim dividend of 15 sen per
share, payable on Aug 8.

Handal wins contract from Petrofac: a two-year contract from Petrofac Energy Developments Sdn Bhd to provide maintenance services for the latter's "Seacrane" offshore pedestal crane. The rates to be charged for the services will only be decided at the time the service is provided

-SunBiz

KTSB wins Carigali Hess contract: Kejuruteraan Samudra Timur Bhd (KSTB) has secured a contract by Carigali Hess Operating Company Sdn Bhd projected to be worth US$6mil. Deleum eyes RM1b jobs: Deleum had set aside RM20mil to RM25mil as capital expenditure (capex) for business expansion this year. Our current order book stands at RM650mil, these projects that the company already had in hand would likely last through 2018.

-StarBiz

Scomi; 4-car trains on track- will deliver the first batch of four-car trains for KL Monorail to Syarikat Prasarana Negara Bhd by year-end. Its unit, Scomi Transit Projects Sdn Bhd, won a RM494 million contract from Prasarana in November last year to supply 12 sets of four-car Generation 2-type trains for its KL Monorail fleet expansion.

Permaju board to meet on Sepangar project: expected to hold a board meeting today on a proposal to
sell and develop some 4ha of land in Sabah for as much as RM250mil. It is understood that under the plan,
Permaju will have to help build a hypermarket.

-Btimes

Source:Jupiter Securities Research 25 May 2012

Technical stock picks table - 25 May 2012

Friday, 25 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend
Take profit at 2.00
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 25 May 2012

Stock Overview - CBIP - 25 May 2012

CBIP ( 7076 : 2.54 ) : Targeting 2.80/Stop loss 2.44

Description
Agricultural machinery

Resistance : 2.80
Support : 2.44

RSI of 39
RSI has stabilised

STOCHASTIC
It is oversold

Comment
The current technical rebound is targeting the price gap of 2.80

Trading Strategy
Buy. Stop loss is at 2.44

Source:Jupiter Securities Research 25 May 2012

Stock Overview - KPSCB - 25 May 2012

KPSCB ( 9121 : 0.40 ) : Targeting 0.48/Stop loss 0.37

Description

Resistance : 0.48
Support : 0.37

RSI of 38
RSI has stabilised

STOCHASTIC
It is oversold

Comment
Following the correction from 0.58, the downside is limited, with good support at 0.37. A technical rebound to 0.48 price gap is likely

Trading Strategy
Buy. Stop loss is at 0.37

Source:Jupiter Securities Research 25 May 2012

Stock Overview - BRAHIMS - 25 May 2012

BRAHIMS ( 9474 : 1.22 ) : Targeting 1.40/Stop loss 1.14

Description
Catering

Resistance : 1.29, 1.40
Support : 1.15

RSI of 57
RSI has stabilised

STOCHASTIC
It is oversold

Comment
The current technical rebound is targeting 1.29, and 1.40

Trading Strategy
Buy. Stop loss is at 1.14

Source:Jupiter Securities Research 25 May 2012

Daily Summary - 25 May 2012

YOUR MORNING COFFEE – Friday 25/5/2012

SUMMARY

• Wall St closed 0.3% higher. Concerns over a possible Greece exit from the eurozone, and the contagion effects remain. Weekly initial jobless claims dipped to 370,000. Durable goods orders up 0.2%, less than
• expected.
• Dow of 12,529 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 35, is rebounding. Upside is at 12,940.
• DOLLAR INDEX is higher at 82.3. Resistance is at 82.8.
• Crude oil is higher at USD90.4. Support is at 88.5.
• Dollar yen is higher at 79.6 yen. Upside is at 81.2.
• Euro/dollar is lower at 1.254. Support is at 1.220.
• Gold is lower at USD1556. Upside is at 1700.
• Shanghai closed lower at 2,350.
• Singapore STI closed higher at 2,783.
• Ringgit is weaker at 3.152. Downside is at 3.200.
• S’pore ringgit is higher at 2.468. Upside is at 2.481.
• Malaysian market closed higher 1548. On the Daily chart, it is in for a technical rebound to 1567, due to the oversold technicals. RSI of 40, has started to recover. Stochastic has started to turn upwards.
• Today’s range is between 1542 and 1554.
• CPO July futures is higher at RM3047. Support is at 3000.
• Trading : CBIP ( 7076 : 2.54 ) : Targeting 2.80/Stop loss 2.44, KPSCB ( 9121 : 0.39 ) : Targeting 0.48/Stop loss 0.37, BRAHIMS ( 9474 : 1.20 ) : Targeting 1.40/Stop loss 1.14

Source:Jupiter Securities Research 25 May 2012

Technical stock picks table - 24 May 2012

Thursday, 24 May 2012
Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54, MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend, Take profit at 2.00
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00: 17/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 24 May 2012

Morning Coffee - 24 May 2012

MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Erase Loss Amid Optimism on Europe Efforts: sending the Dow Jones Industrial Average toward the lowest level on a closing basis this year, amid concern Greece may leave the euro and as Dell Inc. (DELL) tumbled on disappointing revenue forecast. The Standard & Poor’s 500 Index fell 1.3 percent to 1,299.19. It traded near its average price of the last 200 days of about 1,280. The Dow decreased 169.15 points, or 1.4 percent, to 12,333.66. The gauge trimmed this year’s gain to 1 percent. Trading in S&P 500 companies was 1.8 percent above the 30-day average at this time of day.

Stocks Decline in Europe Amid Greek Concern; slid the most in a month amid growing concern that Greece may leave the euro as the region’s leaders prepared to meet in Brussels. The U.K.’s FTSE 100 lost 2.5 percent and Germany’s DAX slid 2.3 percent. France’s CAC 40 sank 2.6 percent.

Oil Falls Below $90, Erases Gains Through 2011: as U.S. supplies increased to a 22-year high and European leaders met to discuss the euro region’s debt crisis. Crude oil for July delivery fell $1.95 to $89.90 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 21. Prices are down 9 percent this year.

CORPORATE NEWS

GDP grew 4.7% in Q1: Malaysia's gross domestic product (GDP) grew at a slower pace of 4.7% in the first quarter of 2012 compared with 5.1% a year earlier and 5.2% in the fourth quarter last year, despite the challenging external environment.

Ramunia to complete regularisation by end-July: which expects to complete its financial regularisation plan by end-July, will apply to Bursa Malaysia to lift its Practice Note 17 (PN17) status. Thai AirAsia IPO to raise RM447m: will involve the sale of a 25% stake in the budget carrier comprising 1.21 billion shares at 3.70 baht each, which will raise some 4.48 billion baht (RM447.21 million).

TSH allots RM750m to RM1b for capex over next 5 years: for replanting, acquisition of more plantations and building new mills. For this year alone, it is looking at increasing its plantation hectarage in Indonesia by 15,000ha to 20,000ha at between US$700 and US$900 per ha.

-SunBiz

CMS Cement embarks on RM150mil expansion: subsidiary of Cahya Mata Sarawak Bhd (CMS) and the state's sole cement manufacturer, is embarking on an expansion programme with an initial investment of
RM150mil in its effort to meet the growing demand for the material.

SAM eyes RM1bil revenue: SAM Engineering & Equipment (M) Bhd, the group obtained approval from shareholders to acquire the engine casing manufacturing division of SAM's parent company, Singapore Aerospace Manufacturing (SAM) Pte Ltd.

GPacket finally turns in operating profit: After 15 quarters of operating losses, Green Packet Bhd has finally turned EBITDA (earnings before interest, taxes, depreciation and amortisation) positive with an operating profit of RM3.9mil, contributed both by its solutions and broadband pillar and supported by 400,000 subscribers.

-StarBiz

Guan Chong Q1net up 4.1pc to RM31.3m: the company’s consistent top line growth was mainly attributable to higher sales volume of cocoa products during the quarter under review, as we benefited from both our cocoa-grinding plants in Pasir Gudang, Johor, and Batam running at full capacity.

Jump in Perisai Petroleum’s pre-tax profit: posted a pre-tax profit of RM26.19 million in its first quarter ended March 31 2012 from RM7.24 million previously as the effects of its two recent acquisitions started to filter through. Perisai acquired a 51 per cent stake in Intan Offshore in August 2011 and five months later
completed the purchase of Garuda Energy.

No more impairment on Idea for now, says Axiata: Axiata, via a merger between Idea Cellular and Spice Telecoms in 2008, acquired 19 per cent stake in Idea Cellular for about 143 rupees (RM8.03) a share in 2008. Unfortunately, Idea's share price has been on a declining trend since the merger.

-Btimes

Source:Jupiter Securities Research 24 May 2012

Stock Overview - TA - 24 May 2012

TA ( 4898 : 0.54 ) : Targeting 0.62/Stop loss 0.51

Description

Resistance : 0.62 0.72
Support : 0.53

RSI of 40
RSI is on a positive divergence

STOCHASTIC
It is oversold

Comment
The recent correction has ended at the price gap of 0.53

Trading Strategy
Buy. Stop loss is at 0.51

Source:Jupiter Securities Research 24 May 2012

Stock Overview - YTLLAND - 24 May 2012

YTLLAND ( 2577 : 0.975 ) : Buy below 0.96/Stop loss 0.93

Description

Resistance : 1.12
Support : 0.95

RSI of 42
RSI is recovering

STOCHASTIC
It is oversold

Comment
With a small downside, it is due for a technical rebound to 1.12

Trading Strategy
Buy below 0.96. Stop loss is at 0.93

Source:Jupiter Securities Research 24 May 2012

Stock Overview - UNISEM - 24 May 2012

UNISEM ( 5005 : 1.28 ) : Buy below 1.26/Stop loss 1.22

Description

Resistance : 1.44 1.49
Support : 1.25

RSI of 36
RSI has stabilised

STOCHASTIC
It is oversold

Comment
With a small downside, it is due for a technical rebound to 1.44

Trading Strategy
Buy below 1.26. Stop loss is at 1.22

Source:Jupiter Securities Research 24 May 2012

Stock Overview - KNM - 24 May 2012

KNM ( 7164 : 0.76 ) : Targeting 0.88/Stop loss 0.72

Description

Resistance : 0.84 0.88
Support : 0.74

RSI of 40
RSI is on a positive divergence

STOCHASTIC
It is oversold

Comment
With a small downside, it is due for a technical rebound to 0.88

Trading Strategy
Buy. Stop loss is at 0.72

Source:Jupiter Securities Research 24 May 2012

Daily Summary - 24 May 2012

YOUR MORNING COFFEE – Thursday 24/5/2012

SUMMARY

• Wall St closed 0.05% lower, on concern of a possible Greece exit from the eurozone, and the contagion effects. In US, housing has started to improve, with the new home sales rising to an annual pace of 343,000 in April. This followed the earlier existing home sales surge of 3.5% in April, first time since January.
• Dow of 12,496 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,311. RSI of 33, is rebounding. Upside is at 12,940.
• DOLLAR INDEX is higher at 82.1. Resistance is at 82.8.
• Crude oil is lower at USD89.6. Support is at 88.5.
• Dollar yen is lower at 79.4 yen. Support is at 78.7.
• Euro/dollar is lower at 1.257. Support is at 1.220.
• Gold is lower at USD1560. Upside is at 1700.
• Shanghai closed lower at 2,363.
• Singapore STI closed lower at 2,786.
• Ringgit is weaker at 3.151. Downside is at 3.200.
• S’pore ringgit is higher at 2.467. Upside is at 2.481.
• Malaysian market closed lower 1539. On the Daily chart, it is in for a technical rebound to 1567, due to the oversold technicals. RSI of 35, has started to recover. Stochastic has started to turn upwards. Today’s range is between 1536 and 1546.
• CPO July futures is higher at RM3118. Support is at 3000.
• Trading : TA ( 4898 : 0.54 ) : Targeting 0.62/Stop loss 0.51, UNISEM ( 5005 : 1.27 ) : Buy below 1.26/Stop loss 1.22, YTLLAND ( 2577 : 0.98 ) : Buy below 0.96/Stop loss 0.93, KNM ( 7164 : 0.76 ) : Targeting 0.88/Stop loss 0.72

 Source:Jupiter Securities Research 24 May 2012

Technical stock picks table - 23 May 2012

Wednesday, 23 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold
Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75: 15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012, Sell:22/5/2012, 1.62 1.94,2.06 Uptrend, Take profit at 2.00
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00: 17/5/2012,1.83 2.38 Small downside

Source:Jupiter Securities Research 23 May 2012

MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Reverse Gain in Final Hour on Greece Woes: as concern that Greece would exit the euro and a tumble in Facebook (FB) Inc. shares overshadowed economic optimism. The S&P 500 added 0.1 percent to 1,316.63, almost erasing a gain of 1 percent. The Dow Jones Industrial Average lost 1.67 points, or less than 0.1 percent, to 12,502.81.

European Stocks Rise the Most in a Month; amid speculation that China and the euro area will do more to stimulate global economic growth. The U.K.’s FTSE 100 and France’s CAC 40 advanced 1.9 percent. Germany’s DAX increased 1.7 percent.

Asia Stocks Rise as Germany, China Vow to Spur Growth: on speculation China and Europe will do more to bolster economic growth, boosting the outlook for the region’s exporters. Japan’s Nikkei 225 Stock Average rose 1.1 percent as the Bank of Japan started a two-day policy meeting today. South Korea’s Kospi Index advanced 1.6 percent. Singapore’s Straits Times Index rose 1.3 percent. Hong Kong’s Hang Seng Index (HSI) rose 0.6 percent. The Shanghai Composite Index, which tracks the larger of China’s stock exchanges, rose 1.1 percent.

Oil Drops on Iran’s Agreement to Allow Nuclear Inspectors: easing concern that the conflict over the
country’s atomic energy program would disrupt Mideast supplies. Oil for June delivery slid 91 cents to settle at $91.66 a barrel on the New York Mercantile Exchange.

CORPORATE NEWS


MAS unveils '3-pillar' capex funding plan: has come up with a fundraising exercise involving a RM2.5 billion sukuk programme and an aircraft leasing arrangement with the government.

Axiata Q1 net profit up 3% to RM566m: helped by higher revenue across all operating companies. The quarter saw the group's subsidiary Celcom Axiata Bhd retaining its leadership status in mobile broadband amid increasing competition.

TM’s broadband users hit 2 million mark: under the brand name Streamyx, while its high speed broadband (HSBB) service, UniFi, has recorded more than 359,000 subscribers.

-SunBiz

Ekuinas expands further in education with Umtech buy: enlarging its footprint in the education sector by buying a 90% stake in its first full-fledged university for RM58.5mil. The acquisition in University of Management and Technology (Umtech).

QSR Q1 net profit lower on Cambodia loss: The lower profit was mainly attributed to the loss incurred by KFC Cambodia and lower earnings from KFC Holdings (M) Bhd (KFCH).

Multi-utility business growth boosts YTL Q3 net profit by 17%: increase in revenue and profit in all of its business segments except for the information technology and ecommerce- related business segment which had a decrease in revenue but an increase in pre-tax profits.

-StarBiz

Willowglen gets RM17.99m railway jobs: Willowglen (Malaysia) Sdn Bhd, has been awarded jobs valued at RM17.99 million for the design, manufacture, installation, testing & commissioning of SCADA and CCTV systems for a local railway project.

Malaysia's international reserves rise to US$136.1b: The reserves were enough to finance 9.3 months of retained imports and were 4.1 times the short-term external debt.

Khazanah safety net for MAS: MAS announced yesterday, it has almost secured about RM8.8 billion to
fund its capital expenditure (capex) and working capital requirements. The announcement, however, was fitted with a statement that Khazanah will take up any shortfall in funding via an equity capital injection.

-Btimes

Source:Jupiter Securities Research 23 May 2012

Stock Overview - WINGTM - 23 May 2012

WINGTM ( 2976 : 2.00 ) : Take profit

Description

Resistance : 2.06
Support : 1.81

RSI of 80
RSI is overbought

STOCHASTIC
It is overbought

Comment
On the buy recommendation of 16/5/2012, we are recommending to take profit. With overbought technicals, the upside is limited

Trading Strategy
Take profit

Source:Jupiter Securities Research 23 May 2012

Stock Overview - PADINI - 23 May 2012

PADINI ( 7052 : 1.68 ) : Avoid/Limited upside

Description

Resistance : 1.81
Support : 1.58

RSI of 57
RSI is slightly positive

STOCHASTIC
It is slightly positive

Comment
The upkick yesterday is a technical rebound, indicating that the upside is likely to be limited, with resistance
at 1.81

Trading Strategy
Avoid

Source:Jupiter Securities Research 23 May 2012

Stock Overview - CRESBLD - 23 May 2012

CRESBLD ( 8591 : 1.08 ) : Targeting 1.30/Stop loss 1.04

Description

Resistance : 1.30
Support : 1.05

RSI of 70
RSI is overbought

STOCHASTIC
It is overbought

Comment
The current upmove is heading for 1.30

Trading Strategy
Buy. Stop loss is at 1.04

Source:Jupiter Securities Research 23 May 2012

Stock Overview - BSTEAD - 23 May 2012

BSTEAD ( 2771 : 4.98 ) : Targeting 5.44/Stop loss 4.86

Description

Resistance : 5.44 5.54
Support : 4.92

RSI of 37
RSI is recovering

STOCHASTIC
It is recovering

Comment
With oversold technicals, it is heading for 5.44

Trading Strategy
Buy. Stop loss is at 4.86

Source:Jupiter Securities Research 23 May 2012

Daily Summary - 23 May 2012

YOUR MORNING COFFEE – Wednesday 23/5/2012

SUMMARY

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

Source:Jupiter Securities Research 23 May 2012

Technical stock picks table - 22 May 2012

Tuesday, 22 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30, BJCORP (3395/0.765) Buy below, 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012 1.62 1.94,2.06 Uptrend
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00: 7/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 22 May 2012

Morning Coffee - 22 May 2012

MARKET ROUNDUP (Source Bloomberg)
S&P 500 Has Biggest Gain in Two Months on China Signals: after China signaled it would support growth while German and French officials said they will work to keep Greece in the euro. The S&P 500 added 1.6 percent to 1,315.99, halting a six-day drop. The Dow Jones Industrial Average rose 135.10 points, or
1.1 percent, to 12,504.48. The Nasdaq Composite Index gained
2.5 percent, the most this year, to 2,847.21.

European Stocks Rebound From Selloff as Carmakers Climb: rebounding from last week’s biggest selloff since September, as China’s pledge to boost growth outweighed concern that Greece may be forced to leave the euro area. The U.K.’s FTSE 100 gained 0.7 percent and Germany’s DAX increased 1 percent, while France’s CAC 40 rose 0.6 percent.

Asia Stocks Rise After China Premier Says Growth Is Focus: with the regional index rebounding from its biggest drop in six months, after Premier Wen Jiabao said China will focus more on bolstering economic growth. Japan’s Nikkei 225 Stock Average climbed 0.3 percent today before the Bank of Japan begins a two-day meeting tomorrow. South Korea’s Kospi Index rose 0.9 percent. Hong Kong’s Hang Seng Index declined 0.2 percent. China’s Shanghai Composite Index gained 0.2 percent.

Oil Rises for First Time in Seven Days on China Pledge: China pledged to boost the nation’s economy and Goldman Sachs Group Inc. said the balance between the supply and demand of crude is tightening. Crude oil for June delivery rose $1.09 to settle at $92.57 a barrel on the New York Mercantile
Exchange. It was the biggest gain since May 1. Prices tumbled 1.2 percent on May 18 to $91.48, the lowest close since Oct. 26. Oil is down 6.3 percent this year.

CORPORATE NEWS
Mah Sing plans new Bangi township: has acquired two plots of land in Bandar Baru Bangi, Selangor for a combined RM333.26 million or RM18.55 per sq ft, where it plans to develop a township with a gross development value (GDV) of RM2.15 billion.

Brahim’s to buy out German partner in catering unit: plans to buy the 49% stake it does not own in Brahim's-LSG Sky ChefsHoldings Sdn Bhd (BLSG) for RM130 million cash, as part of a strategy to turn Brahim's into a sizeable integrated food and beverage player.

Boustead to privatise UAC at RM4.30 a share: plans to privatise its 65%-owned unit UAC Bhd via a selective capital reduction and repayment (SCR) exercise, which together with a proposed dividend payment, would see UAC's minority shareholders bought out at RM4.30 per share or RM111.3
million.

Salcon buys Darco Water unit for RM47m: which is targeting a listing of its China assets in two years, is acquiring a 60% stake in Singapore Exchange-listed Darco Water Technologies Ltd's unit Darco Environmental Pte Ltd for 95.8 million renminbi (RM47.5 million).

-SunBiz

Tan Chong Q1 profit falls 57%: net profit for its first quarter ended March 31, 2012 fell 57% to RM31.67mil from RM74.08mil in the previous corresponding period due to stock constraints in
popular models.

Xingquan’s seasonal sales fare better this year: recorded a 4.6% rise in sales orders to 826 million renminbi (RM400mil) at its recent Autumn/Winter 2012 Sales Fair in China compared with orders received at the same event last year.

Petronas Dagangan posts RM246mil net profit: Revenue posted was RM6.85bil on the back of higher average product selling prices and higher sales volume. The group’s earnings per share was 24.80 sen.

-StarBiz

HeiTech Padu wins RM34.5m IRB contract: software replacement and maintenance services contract from the Inland Revenue Board (IRB). The company said the contract was for three years and any further renewal or extension of the duration would be at the discretion of the board.

Kulim hits record close: The company last Friday announced plans to pay shareholders a special dividend of about RM1.16 billion on completion of the sale of its investments in QSR Brands Bhd and KFC Holdings (Malaysia) Bhd.

-Btimes

Source:Jupiter Securities Research 22 May 2012

Stock Overview - PERDANA - 22 May 2012

PERDANA ( 7108 : 0.50 ) : Targeting 0.58/Stop loss 0.47

Description

Resistance : 0.58 0.64
Support : 0.47 0.49

RSI of 16
RSI is oversold

STOCHASTIC
It is oversold

Comment
With oversold technicals, it is due for a technical rebound to 0.58

Trading Strategy
Buy. Stop loss is 0.47

Source:Jupiter Securities Research 22 May 2012

Stock Overview - AMMB - 22 May 2012

AMMB ( 1015 : 6.18 ) : Avoid

Description

Resistance : 6.34
Support : 5.74 5.87

RSI of 40
RSI is weakening

STOCHASTIC
It is weakening

Comment
The current correction from 6.45 high, is not over yet

Trading Strategy
Avoid. Correction

Source:Jupiter Securities Research 22 May 2012

Stock Overview - PERWAJA - 22 May 2012

PERWAJA ( 5146 : 0.575 ) : Targeting 0.69/Stop loss 0.52

Description

Resistance : 0.69
Support : 0.54

RSI of 25
RSI is oversold, and on a positive divergence

STOCHASTIC
It is oversold

Comment
With oversold technicals, it is due for a rebound to 0.69

Trading Strategy
Buy. Stop loss is at 0.52

Source:Jupiter Securities Research 22 May 2012

Stock Overview - MFLOUR - 22 May 2012

MFLOUR ( 3662 : 1.45 ) : Targeting 1.70/Stop loss 1.32

Description

Resistance : 1.70 1.82
Support : 1.32 1.38

RSI of 13
RSI is oversold

STOCHASTIC
It is oversold

Comment
With oversold technicals, it is due for a rebound to 1.70, and possibly 1.82

Trading Strategy
Buy. Stop loss is at 1.32

Source:Jupiter Securities Research 22 May 2012

Daily Summary - 22 May 2012

YOUR MORNING COFFEE – Tuesday 22/5/2012

SUMMARY

• Wall St closed 1.1% higher, following G8’s stance on solidifying the eurozone, and resolving the sovereign debt crisis. Broader market staged a rally despite a drop on Facebook.
• Dow of 12,504 is on a technical rebound due to the oversold technicals. It has bottomed out at 12,336. RSI of 33, is rebounding. Upside is at 12,940.
• DOLLAR INDEX is lower at 81.0. Support is at 80.4.
• Crude oil is higher at USD92.5. Support is at 88.5.
• Dollar yen is higher at 79.4 yen. Support is at 78.7.
• Euro/dollar is higher at 1.281. Resistance is at 1.300.
• Gold is higher at USD1594. Upside is at 1700.
• Shanghai closed higher at 2,348.
• Singapore STI closed higher at 2,792.
• Ringgit is firmer at 3.120. Downside is at 3.200.
• S’pore ringgit is higher at 2.464. Upside is at 2.481.
• Malaysian market closed higher 1538. On the Daily chart, it is in for
• a technical rebound to 1567, due to the oversold technicals. RSI of 33,
• has started to recover. Stochastic has started to turn upwards.
• Today’s range is between 1536 and 1552.
• CPO July futures is higher at RM3118. Support is at 3000.
• Trading : MFLOUR ( 3662 : 1.45 ) : Targeting 1.70/Stop loss 1.32
• PERWAJA ( 5146 : 0.575 ) : Targeting 0.69/Stop loss 0.52, AMMB ( 1015 : 6.18 ) : Avoid, PERDANA ( 7108 : 0.50 ) : Targeting 0.58/Stop loss 0.47

 Source:Jupiter Securities Research 22 May 2012

Technical stock picks table - 21 May 2012

Monday, 21 May 2012

Stock code / Price Action : Date Stop loss Target Comment

TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold, Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold
Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag, Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012, Sell:18/5/2012, 5.33 5.80 Uptrend, Stop out at 5.33
MEGB (5166/1.05) Buy: 14/5/2012, Sell:17/5/2012, 1.00 1.18 Technical rebound, oversold, Stop out at 1.00
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold, CANONE (5105/2.10), Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold,
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012 1.62 1.94,2.06 Uptrend
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012

Source:Jupiter Securities Research 21 May 2012

Morning Coffee - 21 May 2012

MARKET ROUNDUP (Source Bloomberg)

S&P 500 Falls for 3rd Week in Longest Slump Since August:The S&P 500 tumbled 4.3 percent to 1,295.22, the biggest retreat since November. The index sank 7.7 percent over three weeks, trimming its 2012 gain to 3 percent. The Dow Jones Industrial Average slipped 451.22 points, or 3.5 percent, to 12,369.38, the lowest level since Jan. 6. The Nasdaq Composite Index (CCMP) plunged 5.3 percent, the most since September, to 2,778.79, extending its loss from a March high to 11 percent.

European Stocks Post Biggest Weekly Drop in Eight Months: as Greece moved closer to a possible exit from the euro and concern mounted those Spanish banks will need rescue. The U.K.’s FTSE 100 declined 5.5 percent. France’s CAC 40 lost 3.9 percent and Germany’s DAX slid 4.7 percent.

Asian Stocks Tumble, Wipe Out Year’s Gains, on Europe, U.S. Data: as Europe’s debt crisis worsened, U.S. economic data missed estimates and Chinese home prices and investment declined. China’s Shanghai Composite Index slipped 2.1 percent last week after the nation’s home prices fell from a year earlier in April in a record 46 of 70 cities tracked by the government as officials pledged to keep restrictions on property purchases that have sapped buyer demand. Hong Kong’s Hang Seng Index sank 5.1 percent. Japan’s Nikkei 225 Stock Average decreased 3.8 percent last week.

Crude Oil Falls for a Seventh Day in Longest Decline Since 2009: after Saudi Arabian crude output rose to close to a 31- year high and money managers reduced bullish bets on the commodity. On the New York Mercantile Exchange, crude for June delivery, which expires on Tuesday, settled at $91.48 a barrel, falling $1.08, or 1.17 percent.

CORPORATE NEWS
April motor vehicle sales down 6%: MAA said although
consumer sentiment remain stable, tightening of hire purchase
loans approvals had resulted in longer lead time for completion
sales process and had caused some slowdown in new vehicle
registrations.
AirAsia signs RM12.4mil shirt sponsor deal with QPR: under
a one-year sponsorship deal signed last Friday, which included
an option to extend it for another year.

-SunBiz

SEB opens 3 more power transmission line projects for bidding: has dished out three more power transmission line projects for open bidding, including a 275kV line from Mambong near here to neighbouring West Kalimantan to facilitate the export of electricity to the Indonesian province.

Dataprep plans partnerships: is likely to announce its partnership with several strategic partners soon to grow its business as part of its plan to turnaround the company.

MISC to sail out of choppy waters: the worlds single-largest owner-operator of liquefied natural gas (LNG) tankers, has experienced when its recent ballooning losses caught everybody by surprise.

-StarBiz

Ipoh-Padang Besar rail project hits snag?: The Ipoh-Padang Besar Electrified Double Track project (EDTP) has hit a snag over price due to cost overrun and the main contractor may ask RM1.5 billion in variation order (VO) claims from the government.

Lightening shipowners' fuel bill: Fuel accounts between 60 and 70 per cent of a ship's operating cost, S.I.T. Schiffs- &Industrie Technik (M) Sdn Bhd (S.I.T. Malaysia) managing director Marizan Nor Basirun said.

-Btimes

Source:Jupiter Securities Research 21 May 2012




Source:Jupiter Securities Research 21 May 2012

Stock Overview - MISC - 21 May 2012

MISC ( 3816 : 4.23 ) : Targeting 4.60/Stop loss 4.00

Description

Resistance : 4.60
Support : 4.05

RSI of 26
RSI is recovering

STOCHASTIC
It is oversold

Comment
The multi year correction from the 10.00 high is likely to have ended at the recent low of 3.92, which marks
the 61.8% retracement.

Trading Strategy
Buy. Stop loss is at 4.00

Source:Jupiter Securities Research 21 May 2012

Stock Overview - MAYBANK - 21 May 2012

MAYBANK ( 1155 : 8.41 ) : Avoid/Support 8.17

Description

Resistance : 8.55
Support : 8.17

RSI of 25
RSI is weak

STOCHASTIC
It is weak

Comment
Technicals remain weak, with the next support at 8.17

Trading Strategy
Avoid

Source:Jupiter Securities Research 21 May 2012

Stock Overview - MAS - 21 May 2012

MAS ( 3786 : 1.03 ) : Avoid/Testing 0.91

Description

Resistance : 1.14
Support : 0.80 0.91

RSI of 17
RSI is weak

STOCHASTIC
It is weak

Comment
Technicals are to stay oversold or weak for a while, as it is heading to test the September 1998 low of 0.91

Trading Strategy
Avoid

Source:Jupiter Securities Research 21 May 2012

Stock Overview - IOICORP - 21 May 2012

IOICORP ( 1961 : 4.93 ) : Avoid/Testing 4.70

Description

Resistance : 5.10
Support : 4.70

RSI of 28
RSI is weak

STOCHASTIC
It is weak

Comment
Technicals are to stay oversold or weak for a while, as it is heading to test 4.70

Trading Strategy
Avoid

Source:Jupiter Securities Research 21 May 2012

Morning Coffee - 18 May 2012

MARKET ROUNDUP (Source Bloomberg)

Stocks Drop on Europe, Manufacturing Data as Gold Rallies:
Stocks sank, dragging the Standard & Poor’s 500 Index to a four-month low, as concern grew about the health of Spanish banks and an U.S. gauge of manufacturing trailed projections. Gold rebounded from its lowest level of the year while 10-year Treasury yields approached a record low. The S&P 500 tumbled 1.5 percent to close at 1,304.86 at and the Dow Jones Industrial Average slid 156 points.

European Stocks Drop as ECB Pauses Greek Bank Lending:
declined for a fourth day as the region’s central bank paused lending to some Greek banks and speculation mounted that Spanish banks may have their credit ratings cut at Moody’s Investors Service. The U.K.’s FTSE 100 (UKX), Germany’s DAX and France’s CAC 40 all dropped 1.2 percent.

Oil Fluctuates on Pipeline Reversal, Spanish Banks: Oil fell to a six-month low as investors speculated Spanish banks may have their credit ratings lowered and an American gauge of manufacturing trailed projections, bolstering concern that economic growth will slow. On the New York Mercantile Exchange, June crude fell 25 cents, or 0.27 percent, to settle at $92.65 a barrel, the lowest settlement since Nov. 2 when crude
closed at $92.51.

CORPORATE NEWS

Formis acquires 20% stake in Microlink: for RM4.587 million cash. Formis said the acquisition was a direct business transaction. The consideration was arrived at after taking into account the future earnings potential and prospects of Microlink and the outlook of the information technology industry. It said the acquisition was funded entirely from internally-generated funds.

Fajarbaru wins RM13.6mil job at KLIA2: from Airport Holding
Berhad to supply and install a visual docking guidance system (VDGS) and all associated works at the new low-cost carrier terminal (KLIA2).

Scomi Group sell Nigerian biz: plans to sell its machine shop operation business to AOS Orwell Ltd (AOSO) in a cash deal for US$39.77mil (RM123.67mil), to reduce its debt pile.

-SunBiz

Crest proposes share placement: of 12.4 million new shares representing up to 10% of its issued and paid-up share capital. The company intended to utilise the proceeds for preliminary expenses and consultant expenses to develop real estate on the site of the Dang Wangi light rapid transit station.

KJCF posts lower profit despite higher revenue: pre-tax profit for the first quarter ended March 31 fell to RM33.584mil from RM38.556mil a year earlier. The increase in the division's revenue was mainly attributable to the rise in export sales, which accounted for 90% of the total increase in sales in the first
quarter versus the corresponding period of 2011.

JCY profit soars on better deals: posted a 1,209% spike in its second-quarter ended March 31 net profit to RM163.09mil, compared with RM12.46mil a year earlier, fueled by better average selling price of its products, favourable exchange rates and higher volume shipped.

-StarBiz

KHSB in pact to develop 2,013ha site: Kumpulan Hartanah Selangor Bhd (KHSB) and Sun Lohas Group Ltd yesterday signed a memorandum of understanding (MoU) on the proposed eco-development on a 2,013ha site in Bestari Jaya, Kuala Selangor.

EPF joins special purpose vehicle for QSR-KFC deal: he Employees Provident Fund (EPF) is joining Johor Corporation (JCorp) as shareholders of Massive Equity Sdn Bhd (MESB).MESB is a special purpose vehicle formed to buy QSR Brands Bhd and KFC Holdings (M) Bhd.

-Btimes

Source:Jupiter Securities Research 18 May 2012







and high

technical stock picks table - 18 May 2012

Friday, 18 May 2012

Stock code / Price Action : Date Stop loss Target Comment
TRC (5054/0.735) Buy: 10/5/2012, Sell:15/5/2012, 0.70 0.78,0.81 Consolidation breakout, Stop out at 0.70
PERISAI (0047/0.90) Buy: 10/5/2012, Sell:16/5/2012, 0.87 1.04,1.12 Consolidation breakout, Stop out at 0.87
CIMB (1023/7.64) Buy: 10/5/2012, Sell:14/5/2012, 7.54 8.16,8.28 Uptrend, oversold
Stop out at 7.54
MUHIBAH (5703/1.30) Buy: 10/5/2012, Sell:16/5/2012, 1.22 1.45,1.50 Technical rebound, oversold, Stop out at 1.22
MPHB (3859/2.95) Buy: 11/5/2012, Sell:16/5/2012, 2.80 3.20,3.49 Bullish Pennant or Flag, Stop out at 2.80
JAKS (4723/0.565) Buy: 11/5/2012, Sell:15/5/2012, 0.54 0.66,0.73 Technical rebound, oversold, Stop out at 0.54
AIRASIA (5099/3.65) Buy: 11/5/2012, Sell:15/5/2012, 3.50 4.04 Bullish Pennant or Flag
Stop out at 3.50
MUDAJYA (5085/2.75) Buy: 11/5/2012, Sell:14/5/2012, 2.63 2.90,2.98 Technical rebound, oversold, Stop out at 2.63
TM (4863/5.43) Buy: 14/5/2012 5.33 5.80 Uptrend, MEGB (5166/1.05) Buy: 14/5/2012 1.00 1.18 Technical rebound, oversold
LFECORP (7170/0.145) Buy: 14/5/2012, Sell:16/5/2012, 0.125 0.21 Consolidation breakout, Stop out at 0.125
DIALOG (7277/2.24) Buy: 14/5/2012 2.16 2.52 Technical rebound, oversold
CANONE (5105/2.10) Buy: 15/5/2012 2.00 2.42 Uptrend
DAYA (0091/0.21) Buy: 15/5/2012 0.18 0.28 Technical rebound, oversold
SCOPE (0028/0.25) Sell: 15/5/2012 Resistance around 0.27-0.30
BJCORP (3395/0.765) Buy below 0.75:15/5/2012, 0.72 0.82 Due for a technical rebound
WINGTM (2976/1.70) Buy: 16/5/2012 1.62 1.94,2.06 Uptrend
RSAWIT (5113/1.03) Sell: 16/5/2012 0.93 Still in correction
GAMUDA (5398/3.56) Buy: 16/5/2012, Sell:16/5/2012, 3.46 3.90 Technical rebound, oversold, Stop out at 3.46
AXIATA (6888/5.37) Avoid:16/5/2012 5.16,5.24 Double Top
MITRA (9571/0.55) Buy: 17/5/2012 0.54 0.61 Double Bottom
KINSTEL (5060/0.43) Buy: 17/5/2012 0.40 0.50 Double Bottom
MBSB (1171/2.10) Buy below 2.00:17/5/2012, 1.83 2.38 Small downside

Source:Jupiter Securities Research 18 May 2012




Source: Jupiter Securities Research 18 May 2012

Stock Overview - YTLPOWR - 18 May 2012

YTLPOWR ( 6742 : 1.55 ) : Avoid/Testing 1.37

Description

Resistance : 1.70
Support : 1.20 1.37

RSI of 34
RSI is oversold

STOCHASTIC
It is oversold

Comment
The current correction is likely to dip lower to 1.37

Trading Strategy
Avoid

Source: Jupiter Securities Research 18 May 2012

Stock Overview - MRCB- 18 May 2012

MRCB ( 1651 : 1.58 ) : Targeting 1.82/Stop loss 1.46

Description

Resistance : 1.82 1.90
Support : 1.46

RSI of 32
RSI is on a positive divergence

STOCHASTIC
It is oversold

Comment
With oversold technicals, a technical rebound to target 1.82-1.90 is likely

Trading Strategy
Buy. Stop loss is at 1.46

Source: Jupiter Securities Research 18 May 2012

Stock Overview - GENM- 18 May 2012

GENM ( 4715 : 3.58 ) : Targeting 3.93/Stop loss 3.50

Description

Resistance : 3.93
Support : 3.50

RSI of 31
RSI is on a small spike up

STOCHASTIC
It is oversold

Comment
With oversold technicals, a technical rebound to target 3.93 is likely

Trading Strategy
Buy. Stop loss is at 3.50

Source: Jupiter Securities Research 18 May 2012

Stock Overview - BIMB - 18 May 2012

BIMB ( 5258 : 2.45 ) : Targeting 2.70/Stop loss 2.34

Description

Resistance : 2.70
Support : 2.34

RSI of 46
RSI is recovering

STOCHASTIC
It is on a small buy signal

Comment
With oversold technicals, a technical rebound to target 2.70 is likely

Trading Strategy
Buy. Stop loss is at 2.34

Source: Jupiter Securities Research 18 May 2012

Daily Summary - 18 May 2012

YOUR MORNING COFFEE – Friday 18/5/2012

SUMMARY

• Wall St closed 1.2% lower, on Greece’s future in the eurozone. The uncertainty has led to the ECB suspending lending to some Greek banks. Weekly US initial jobless claims unchanged at 370,000.
• Regional manufacturing activity index in the Philadelphia region, was down to 5.8 from 8.5. Index of leading indicators down 0.1%.
• Dow of 12,442 is heading lower. A technical rebound is possible due to the oversold level. Upside is capped at 12,940. Support is 12,285. RSI of 26, indicates a limited downside.
• DOLLAR INDEX is higher at 81.4. Resistance is at 81.8.
• Crude oil is lower at USD92.5. Support is at 92.5, 88.5.
• Dollar yen is lower at 79.3 yen. Support is at 78.7.
• Euro/dollar is lower at 1.270. Support is at 1.265.
• Gold is higher at USD1575. Upside is at 1700.
• Shanghai closed higher at 2,378.
• Singapore STI closed lower at 2,829.
• Ringgit is weaker at 3.111. Downside is at 3.200.
• S’pore ringgit is higher at 2.457. Upside is at 2.481.
• Malaysian market closed higher 1544. On the Daily chart, the current correction is on 1521 support. RSI of 32, is oversold. Stochastic has started to turn upwards. Today’s range is between 1538 and 1548.
• CPO July futures is higher at RM3124. Support is at 3000.
• Trading : GENM ( 4715 : 3.58 ) : Targeting 3.93/Stop loss 3.50, YTLPOWR ( 6742 : 1.55 ) : Avoid/Testing 1.37

Source: Jupiter Securities Research 18 May 2012

MRCB ( 1651 : 1.58 ) : Targeting 1.82/Stop loss 1.46
BIMB ( 5258 : 2.42 ) : Targeting 2.70/Stop loss 2.34

Morning Coffee - 17 May 2012

Market roundup-Bloomberg

S&P 500 Caps Longest Slump in 1 Month on Europe Concerns: dropped a fourth day, the longest decline in a month, as concern Greece’s debt crisis is worsening offset better-than-estimated reports on U.S. housing starts and industrial production. The S&P 500 retreated 0.4 percent to 1,324.80 reversing an earlier advance of as much as 0.8 percent. The Dow Jones Industrial Average decreased 33.45 points, or 0.3 percent, to 12,598.55, the lowest level since Jan. 18.

European Stocks Extend Four-Month Low Amid Greek Concern: dropped for a third day, to their lowest level this year, amid growing concern Greece will be forced to leave the euro area. The U.K.’s FTSE 100 fell 0.6 percent, Germany’s DAX dropped 0.3 percent and France’s CAC 40 increased 0.3 percent.

Oil, Gold Slide as Dollar Gains on Greece: Oil slid to a six-month low and gold declined as the Dollar Index extended a record-long rally amid concern Greece’s financial crisis is worsening. Crude for June delivery fell 1.2 percent to settle at $92.81 a barrel while gold approached a bear-market drop of 20 percent from last year’s record.

Corporate News
SapuraKencana needs US$1-1.5b new jobs a year: which makes its debut on Bursa Malaysia today, will need to replenish US$1 billion to US$1.5 billion of new jobs every year to sustain a healthy backlog for the newly merged entity.

Hektar REIT gets nod to increase fund size: Approval was also given for the valuation of two retail properties totalling RM184 million in Kedah to be acquired by Hektar REIT, namely the Landmark Central Shopping Centre and a major portion of Central Square Shopping Centre. JCY starts ops at 2nd China factory: The new factory costs RM36 million to build and another RM9 million to fit out and furnish.

-SunBiz


HLB earnings soar on merger with EON Capital: net profit for its third quarter ended March 31 rose 60.5% to RM465.1mil from RM289.7mil a year earlier.

MISC net loss widens in Q1: suffered a net loss of RM465.08mil in its first quarter ended March 31 compared with a net loss RM307.88mil a year earlier.

Tradewinds Q1 earnings down: net profit for its first quarter ended March 31 fell sharply by 91% to RM4.34mil from RM48.63mil

 -StarBiz

KrisAssets posts higher Q1 pre-tax: registered a higher pre-tax profit of RM1.357 billion in the first quarter ended March 31 compared with RM54.269 million in the same period last year.

Media Prima outlook strong despite Q1 setback: net profit and revenue for the first quarter ended March 2012 fell 40.4 per cent and 5.3 per cent to RM20.8 million and RM335.3 million, respectively.

BSN net income jumps to RM1.03b: as posted a higher net income of RM1.03 billion for its financial year ended December 31 2011 compared with RM968 million in the same period previously.

-Btimes


Source:Jupiter Securities Research 17 May 2012


-StarBiz-StarBiz

Source:Jupiter Securities Reasearch 17 May 2012