MINHO ( 5576 : 0.59 ) : Take profit
Description
Resistance : 0.63
Support : 0.54
RSI of 65
RSI is turning down
STOCHASTIC
It is turning down
Comment
On the 20/9/2012 buy at 0.53, we are recommending to take profit as technicals are turning downwards
Trading Strategy
Take profit
Source:Jupiter Securities Research 4 October 2012
Thursday, 4 October 2012
Stock Overview - GENM - 4 Oct 2012
GENM ( 4715 : 3.72 ) : Take profit
Description
Resistance : 3.80
Support : 3.54
RSI of 61
RSI appears to have stalled
STOCHASTIC
It is overbought, indicating a pullback
Comment
On the buy of 2/10/2012, we are recommending to take profit, as tehnicals are approaching overbought indicating a likely pullback
Trading Strategy
Take profit
Source:Jupiter Securities Research 4 October 2012
Description
Resistance : 3.80
Support : 3.54
RSI of 61
RSI appears to have stalled
STOCHASTIC
It is overbought, indicating a pullback
Comment
On the buy of 2/10/2012, we are recommending to take profit, as tehnicals are approaching overbought indicating a likely pullback
Trading Strategy
Take profit
Source:Jupiter Securities Research 4 October 2012
Daily Summary - 4 Oct 2012
YOUR MORNING COFFEE – Thursday 4/10/2012
SUMMARY
Source:Jupiter Securities Research 4 October 2012
SUMMARY
- Wall St closed 0.1% higher, on the 162,000 jobs created in the private sector in Sept as reported by ADP. Focus is on this Friday’s monthly job data.
- Dow of 13,494, is stabilising. Support is at 13,360. RSI of 57, is rebounding.
- DOLLAR INDEX is lower at 79.8 Resistance is at 80.5.
- Crude oil is lower at USD88.1. Support is at 86.0.
- Dollar yen is higher at 78.5 yen. Support is at 77.6.
- Euro/dollar is higher at 1.291. Support is at 1.260.
- Gold is higher at USD1778. Support is at 1720.
- Shanghai closed higher at 2,086.
- Singapore STI closed lower at 3,071.
- Ringgit is weaker at 3.058. Downside is at 3.09.
- S’pore ringgit is higher at 2.484. Upside is at 2.540.
- Malaysian market closed lower at 1649. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1638. RSI of 59, is on a buy divergence. Today’s range is between 1646 and 1656.
- CPO Dec futures is higher at RM2356. Support is at 2330.
- Trading : RHBCAP ( 1066 : 7.32 ) : Take profit, MINHO ( 5576 : 0.59 ) : Take profit, ADVENTA ( 7191 : 1.86 ) : Buy below 1.83, GENM ( 4715 : 3.72 ) : Take profit
Source:Jupiter Securities Research 4 October 2012
Tuesday, 2 October 2012
Morning Coffee - 3 Oct 2012
MARKET ROUNDUP (Source Bloomberg)
S&P 500 Erases Loss as Apple Recovery Overshadows Spain; as a rebound in Apple (AAPL) Inc. overshadowed disappointment after Spanish Prime Minister Mariano Rajoy said a bailout request is not imminent. The S&P 500 rose 0.1 percent to 1,445.75 at 4 p.m. New York time, after dropping as much as 0.4 percent. The Dow Jones Industrial Average lost 32.75 points, or 0.2 percent, to 13,482.36. Volume for exchange-listed stocks in the U.S. was 5.8 billion shares, or 3.4 percent below the threemonth average.
European Stocks Decline; Alstom, Erste Drop; after yesterday rallying the most in more than three weeks, as companies from Alstom SA to Erste Group Bank AG (EBS) sold shares. France’s CAC 40 slipped 0.6 percent. The U.K.’s FTSE 100 retreated 0.2 percent, while Germany’s DAX lost 0.3 percent.
Oil Drops a Second Day as Crude Stockpiles Advance a Fourth Week; after an industry-funded report showed stockpiles climbed for a fourth week in the U.S., the world’s biggest crude user. Crude for November delivery decreased as much as 31 cents to $91.58 a barrel in electronic trading on the New York Mercantile Exchange and was at $91.60 at 9:16 a.m. Sydney time. The contract yesterday fell 59 cents, or 0.6 percent, to $91.89, the lowest close since Sept. 27 and the first drop in four days. Prices are 7.3 percent lower this year.
CORPORATE NEWS
CPO plunges 8.4%; The three-month benchmark December contract fell 8.4% to close at RM2,255 per tonne, its biggest single day drop since July 2008. It reached an intra-day low of RM2,250 per tonne with a turnover of 28,743 lots. In July, famed palm oil forecaster Dorab Mistry, director at Godrej International warned that crude palm oil (CPO) price was indeed heading south with a 50% chance that Malaysia's CPO futures would drop to RM2,300 per tonne in the final quarter.
Pestech, Mega form JV for TNB job; Pestech Sdn Bhd and Mega Linear Sdn Bhd have formed a joint-venture company to undertake the supply, construction and commissioning of a 132 kilovolt and 33 kilovolt switchgear, transformer and ancillary equipment worth RM16.48mil. In a filing to Bursa Malaysia, Pestech said the contract, awarded byTenaga Nasional Bhd (TNB), would also include civil works for PMU 132/33 kilovolts, Bukit Siput extension in Johor.
StarbIz
Subsea: Malaysia positioned to be global oil & gas hub; The Prime Minister announced a 100 per cent income tax exemption for a period of 10 years, exemption of withholding tax and exemption of stamp duty to be given to public-private partnership projects in the development of oil and gas industry. Subsea UK is the industry body and focal point for the entire British subsea industry and aims to increase business opportunities at home and abroad for the sector.
Kejuruteraan Samudra wins Petronas deal; has won a contract from Petronas Carigali to provide tubular handling equipment and services. The contract was for the D-21, Samarang Phase 2AD and Tangga Barat Cluster Development Phase 1 projects from September 28 this year to August 31, 2013, it said
Btimes
Source:Jupiter Securities Research, 03 October 2012
S&P 500 Erases Loss as Apple Recovery Overshadows Spain; as a rebound in Apple (AAPL) Inc. overshadowed disappointment after Spanish Prime Minister Mariano Rajoy said a bailout request is not imminent. The S&P 500 rose 0.1 percent to 1,445.75 at 4 p.m. New York time, after dropping as much as 0.4 percent. The Dow Jones Industrial Average lost 32.75 points, or 0.2 percent, to 13,482.36. Volume for exchange-listed stocks in the U.S. was 5.8 billion shares, or 3.4 percent below the threemonth average.
European Stocks Decline; Alstom, Erste Drop; after yesterday rallying the most in more than three weeks, as companies from Alstom SA to Erste Group Bank AG (EBS) sold shares. France’s CAC 40 slipped 0.6 percent. The U.K.’s FTSE 100 retreated 0.2 percent, while Germany’s DAX lost 0.3 percent.
Oil Drops a Second Day as Crude Stockpiles Advance a Fourth Week; after an industry-funded report showed stockpiles climbed for a fourth week in the U.S., the world’s biggest crude user. Crude for November delivery decreased as much as 31 cents to $91.58 a barrel in electronic trading on the New York Mercantile Exchange and was at $91.60 at 9:16 a.m. Sydney time. The contract yesterday fell 59 cents, or 0.6 percent, to $91.89, the lowest close since Sept. 27 and the first drop in four days. Prices are 7.3 percent lower this year.
CORPORATE NEWS
CPO plunges 8.4%; The three-month benchmark December contract fell 8.4% to close at RM2,255 per tonne, its biggest single day drop since July 2008. It reached an intra-day low of RM2,250 per tonne with a turnover of 28,743 lots. In July, famed palm oil forecaster Dorab Mistry, director at Godrej International warned that crude palm oil (CPO) price was indeed heading south with a 50% chance that Malaysia's CPO futures would drop to RM2,300 per tonne in the final quarter.
Pestech, Mega form JV for TNB job; Pestech Sdn Bhd and Mega Linear Sdn Bhd have formed a joint-venture company to undertake the supply, construction and commissioning of a 132 kilovolt and 33 kilovolt switchgear, transformer and ancillary equipment worth RM16.48mil. In a filing to Bursa Malaysia, Pestech said the contract, awarded byTenaga Nasional Bhd (TNB), would also include civil works for PMU 132/33 kilovolts, Bukit Siput extension in Johor.
StarbIz
Subsea: Malaysia positioned to be global oil & gas hub; The Prime Minister announced a 100 per cent income tax exemption for a period of 10 years, exemption of withholding tax and exemption of stamp duty to be given to public-private partnership projects in the development of oil and gas industry. Subsea UK is the industry body and focal point for the entire British subsea industry and aims to increase business opportunities at home and abroad for the sector.
Kejuruteraan Samudra wins Petronas deal; has won a contract from Petronas Carigali to provide tubular handling equipment and services. The contract was for the D-21, Samarang Phase 2AD and Tangga Barat Cluster Development Phase 1 projects from September 28 this year to August 31, 2013, it said
Btimes
Source:Jupiter Securities Research, 03 October 2012
Stock Overview - BORNOIL - 3 Oct 2012
BORNOIL ( 7036 : 0.41 ) : Targeting 0.47/Stop loss 0.38
Description
Resistance : 0.47
Support : 0.38
RSI of 43
RSI is recovering
STOCHASTIC
It is oversold
Comment
The recent sell down has ended at the Double bottom of 0.385. With oversold technicals, it is due for a technical rebound
Trading Strategy
Buy: Stop loss is at 0.38
Source:Jupiter Securities Research, 03 October 2012
Stock Overview - DIGI - 3 Oct 2012
DIGI ( 6947 : 5.32 ) : Take profit
Description
Resistance : 5.35
Support : 5.20
RSI of 74
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 27/9/2012 buy at 5.07, we are recommending to take profit as technicals are overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research, 03 October 2012
Stock Overview - MEGB - 3 Oct 2012
MEGB ( 5166 : 0.61 ) : Targeting 0.67/Stop loss 0.59
Description
Resistance : 0.67
Support : 0.59
RSI of 32
RSI is recovering
STOCHASTIC
It is oversold
Comment
The recent sell down has ended at 0.585. With oversold technicals, it is due for a technical rebound
Trading Strategy
Buy: Stop loss is at 0.59
Source:Jupiter Securities Research, 03 October 2012
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