Morning Coffee - 19 Jun 2012

MARKET ROUNDUP (Source Bloomberg)

Most U.S. Stocks Rise As Greece Tempers Spain Concern: as optimism about Greece’s attempts to form a coalition government tempered concern about a surge in Spanish bond yields. The S&P 500 rose 0.1 percent to 1,344.78, after dropping
0.6 percent. The Dow Jones Industrial Averagelost 25.35 points, or 0.2 percent, to 12,741.82. The Nasdaq Composite Index added 0.8 percent to 2,895.33. Trading volume for exchangelisted stocks in the U.S. was about 5.8 billion shares, 13 percent below the three-month average.

Equities rebounded as Antonis Samaras, leader of Greece’s New Democracy party, said he had a constructive discussion with Democratic Left leader Fotis Kouvelis. German Chancellor Angela Merkel’s said Greece shouldn’t be granted leeway on
terms for its bailout. Group of 20 chiefs began a two-day meeting as Spain’s borrowing costs soared to a euro-era record. Policy makers are discussing ways to stimulate the economy if necessary, a Canadian official said.

European Stocks Little Changed On Spain’s Borrowing Costs: as the yield on Spain’s benchmark 10-year bond climbed above 7 percent, amid fading optimism that Greece’s election will calm the euro area’s sovereign-debt crisis. The U.K.’s FTSE 100 Index added 0.2 percent, while Germany’s DAX increased 0.3 percent. France’s CAC 40 slipped 0.7 percent.

Crude Falls For First Time In Three Days On European Debt: as the worsening European debt crisis threatened to slow global economic growth and reduce demand for crude. On the New York Mercantile Exchange, crude for July delivery, which expires on Wednesday, fell 76 cents, or 0.90 percent, to settle
at $83.27 a barrel.

CORPORATE NEWS

Mudajaya wants more recurring income: between 60% and 70% of its total revenue in five years, and is looking at expanding its business in India, Vietnam and the Middle East to achieve the target, particularly in the power, water and highway sectors.

Nadayu aims to double property sales to RM400m this year: from RM200 million in 2011, with plans to launch properties with an estimated gross development value (GDV) of RM527 million.

SunBiz

New Hoong Fatt overseas expansion: an automotive replacement parts manufacturer plans to capitalise on the growing automotive market, especially in the neighbouring region.

GHL set on becoming a regional leader: currently 20 per cent of GHL’s revenue comes from its overseas operations namely Thailand and the Philippines.

Btimes


Source:Jupiter Securities Research 19 June 2012

Stock Overview - THPLANT - 19 June 2012

THPLANT ( 5112 : 2.29 ) : Targeting 2.54/Stop loss 2.18

Description

Resistance : 2.54 2.58
Support : 2.18

RSI of 42
RSI has gone into a positive divergence

STOCHASTIC
It is approaching oversold

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

Trading Strategy
Buy. Stop loss is at 2.18

Source:Jupiter Securities Research 19 June 2012

Stock Overview - MPHB - 19 June 2012

MPHB ( 3859 : 3.38 ) : Take profit

Description

Resistance : 3.44
Support : 3.26

RSI of 64
RSI has gone into a sell divergence

STOCHASTIC
It is approaching overbought

Comment
On the 6/6/2012 buy at 3.24, we are recommending to take profit as it is approaching overbought indicating a limited upside

Trading Strategy
Take profit

Source:Jupiter Securities Research 19 June 2012

Stock Overview - MALTON - 19 June 2012

MALTON ( 6181 : 0.57 ) : Targeting 0.65/Stop loss 0.55

Description

Resistance : 0.65
Support : 0.55

RSI of 75
RSI is overbought

STOCHASTIC
It is on an upswing

Comment
The current upkick is heading for the 61.8% retracement of 0.65

Trading Strategy
Buy. Stop loss is at 0.55

Source:Jupiter Securities Research 19 June 2012

Stock Overview - CENSOF - 19 June 2012

CENSOF ( 5195 : 0.41 ) : Take profit

Description

Resistance : 0.42
Support : 0.37

RSI of 61
RSI remains firm

STOCHASTIC
It is approaching overbought

Comment
On the 12/6/2012 buy at 0.37, we are recommending to take profit as it has hit our target of 0.41. It is also
approaching overbought indicating a limited upside

Trading Strategy
Take profit

Source:Jupiter Securities Research 19 June 2012

Daily Summary - 19 June 2012

YOUR MORNING COFFEE – Tuesday 19/6/2012


SUMMARY

• Wall St closed 0.2 lower ahead of G20 meeting early in the week, and US FOMC Wednesday. US Fed may announce some stimulus measures. In Greece, the pro-bailout parties, New Democracy and Pasok parties, led the election.
• Dow of 12,741 is heading higher to test a resistance at 12,900. RSI of 56, is on a positive divergence, indicating a technical rebound.
• DOLLAR INDEX is higher at 81.8. Resistance is at 82.7.
• Crude oil is lower at USD83.2. Upside is at 90.0.
• Dollar yen is lower at 78.9 yen. Upside is at 80.6.
• Euro/dollar is lower at 1.259. Resistance is at 1.283.
• Gold is higher at USD1626. Upside is at 1740.
• Shanghai closed higher at 2,316.
• Singapore STI closed higher at 2,824.
• Ringgit is weaker at 3.157. Downside is at 3.238.
• S’pore ringgit is higher at 2.486. Upside is at 2.520.
• Malaysian market closed higher 1582. On the Daily chart, it is expected to breach the Double top of 1582, to target 1591. Pullback support is at 1568. RSI of 57, remains positive. Today’s range is between 1579 and 1589.
• CPO Aug futures is higher at RM2875. Downside is at 2770.
• Trading : CENSOF ( 5195 : 0.41 ) : Take profit
• MPHB ( 3859 : 3.40 ) : Take profit, THPLANT ( 5112 : 2.29 ) : Targeting 2.54/Stop loss 2.18, MALTON ( 6181 : 0.57 ) : Targeting 0.65/Stop loss 0.55

Source:Jupiter Securities Research 19 June 2012

Technical stock picks table - 18 June 2012

Monday, 18 June 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
Sell:8/6/2012, 2.16 2.52 Technical rebound, oversold, Take profit at 2.39
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, Sell: 4/6/2012, 1.83 2.38 Small downside, Take profit at 2.22
GENM (4715/3.58), Buy: 18/5/2012, Sell:30/5/2012, 3.50, 3.93-3.97, Technical rebound, oversold, Take profit at 3.83
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, Sell: 4/6/2012, 4.00 4.60 Correction ended at 3.92, Stop out at 4.00
MFLOUR (3662/1.45), Buy: 22/5/2012 1.32, 5/6/2012:Stop loss, raised to 1.45, 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, Sell:14/6/2012, 0.47 0.58,0.64 Technical rebound, oversold, Take profit at 0.59
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, Sell: 4/6/2012, 0.72 0.84,0.88 Technical rebound, oversold, Stop out at 0.72
CBIP (7076/2.54) Buy: 25/5/2012, Sell: 4/6/2012., 2.44 2.80 Technical rebound, oversold, Stop out at 2.44
KPSCB (9121/0.39), Buy: 25/5/2012 0.37 0.48 Technical rebound, oversold
BRAHIMS (9474/1.20), Buy: 25/5/2012, Sell:11/6/2012, 1.14 1.40 Technical rebound, oversold, Stop out at 1.13
DIGI (6947/3.95), Buy: 29/5/2012 3.89, 4.20 Technical rebound, oversold
PERMAJU (7080/0.84), Buy: 29/5/2012, Sell: 4/5/2012, 0.80 1.02 Double bottom
Stop out at 0.80
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
MAS (3786/1.17), Buy: 31/5/2012 1.08 1.30,1.40 Technical rebound, oversold
PUNCAK (6807/1.33), Buy: 31/5/2012 1.26 1.57 Consolidation breakout
YINSON (7293/2.00), Buy: 1/6/2012, Sell:11/6/2012, 1.90 2.20 Uptrend, Take profit at 2.14
L&G (3174/0.34), Buy: 1/6/2012 0.31 0.39,0.44 Trend breakout
COASTAL (5071/1.76), Buy: 1/6/2012, Sell:11/6/2012, 1.62 2.00 Technical rebound, oversold, Take profit at 1.91
TM (4863/5.39), Buy: 1/6/2012 5.30 5.70 Uptrend
TAGB (5158/0.275), Buy: 4/6/2012 0.26 0.34 Double bottom
BURSA (1818/6.05), Buy: 4/6/2012 5.85 6.40,6.60 Technical rebound, oversold
BINTAI (6998/0.375)
Buy: 4/6/2012, Sell:11/6/2012, 0.34 0.46 Breakout, Take profit at 0.42
SMI (4375/0.21), Buy below 0.20:5/6/2012, 0.185 0.25 Correction completed
KLCCP (5089/3.95), Buy: 5/6/2012 3.84 4.22,4.34 Consolidation breakout
MPHB (3859/3.24), Buy: 6/6/2012 3.10, 14/6/2012:Stop loss, raised to 3.38, 3.50,3.64 Uptrend
TDM (2054/3.78) Buy: 6/6/2012, Sell:15/6/2012, 3.69 4.20 Technical rebound, oversold, Take profit at 4.55
LITRAK (6645/4.10), Buy: 6/6/2012 3.92 4.48 Uptrend
MAYBANK (1155/8.70) Buy: 7/6/2012 8.50 9.20 Oversold
UMW (4588/8.08) Buy: 7/6/2012, Sell:14/6/2012, 7.90
14/6/2012:Stop loss, raised to 8.22, 8.40,8.60 Uptrend, Take profit at 8.44
BJTOTO (1562/4.31) Buy: 7/6/2012 4.20 4.70 Oversold
UEMLAND (5148/1.96) Buy: 8/6/2012 1.90 2.15,2.19 Oversold
FITTERS (9318/0.72) Buy: 8/6/2012 0.69 0.85 Double bottom
AIRASIA (5099/3.65) Buy: 11/6/2012 3.52 3.82,3.94 Rebound
SKPRES (7155/0.535) Buy: 11/6/2012 0.50 0.63 Consolidation breakout
CENSOF (5195/0.37) Buy: 12/6/2012 0.35 0.41 Oversold
FAVCO (7229/1.43) Buy: 13/6/2012 1.35 1.60 Oversold
FAJAR (7047/1.08) Buy: 13/6/2012, Sell:14/6/2012, 1.04 1.22 Technical rebound, Stop out at 1.04
MUHIBAH (5703/1.21) Buy:14/6/2012 1.18 1.34 Double bottom
ENG (8826/1.95) Buy:14/6/2012 1.91 2.20 Breakout
TRC (5054/0.67) Buy around 0.65:15/6/2012, 0.62 0.74 Double Bottom
SUPERMX (7106/1.96) Buy:18/6/2012 1.88 2.15 Positive technicals
OLDTOWN(5201/1.59) Buy:18/6/2012 1.51 1.74 Positive technicals


Source:Jupiter Securities Research 18 June 2012