M+Online Morning Buzz: Dow+200.36 pts (+1.23%) @ 16,472.37 pts. The U.S. stockmarkets rebounded sharply from its opening losses as the Dow climbed 1.2% after enduring a volatile trading session on the back of weaker-than-expected jobs data. On the broader market, the S&P 500 rose 1.4% with all nine of the ten sectors advanced, while oil prices rebounded.
 
Following the two straight sessions of gains, the FBM KLCI experienced some profit taking last Friday, but managed to close higher on the weekly basis. The weekly MACD Histogram has extended another green bar, while the weekly RSI continues to hover above the 30 level. The immediate resistance will be envisaged around the 1,650-1,660 levels. Support is pegged around the 1,560-1,600 levels.

Sector Focus: Plastic-related, Technology, Oil & Gas

Plastic-related: BPPLAS, SLP, ASIAPLY
Technology: PENTA, UNISEM
Oil & Gas: EATECH, BARAKAH, ARMADA

Others: HHGROUP, ESCERAM

Potential Momentum Stocks:

ASIAPLY (0105): Monitor for a breakout above the RM0.68 level. TP: RM0.73-RM0.78. SL: RM0.65.

PENTA (7160): Price formed a breakout-pullback continuation pattern above the RM0.76 level. TP: RM0.895-RM0.915. SL: RM0.76.

EATECH (5259): Monitor for a breakout above the RM1.10 level. TP: RM1.30-RM1.50. SL: RM1.00.

Source: M+ Online

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