M+Online Morning Buzz: Dow +13.76 pts (+0.08%) @ 16,790.19 pts. The U.S. stockmarkets closed mixed as the Dow extended its gains by 0.1%, lifted by DuPont (+7.7%) after the announcement of its CEO resignation. The S&P 500, however, snapped its five consecutive winning streak to close 0.4% lower, owing to the selloff in healthcare sector (-2.3%), which overshadowed the gains in energy sectors after crude oil prices rallied.

The FBM KLCI extended its gains to close above the EMA60 level yesterday as investors started to pick up oil and gas shares on the back of stabilising crude oil prices, coupled with the strengthening of the Ringgit against the USD. The MACD Histogram has extended another green bar, while the RSI continues to hover above the 50 level. The immediate resistance will be envisaged around the 1,690-1,700 levels. Support is pegged around the 1,560-1,600 levels.

Sector Focus: Oil & Gas, Healthcare-related

Oil & Gas: DELEUM, PANTECH, EATECH
Healthcare-related: CCMDBIO, HOVID

Others: GDEX, WILLOW, CONNECT, EWEIN


Potential Momentum Stocks:

DELEUM (5132): Monitor for a breakout above the RM1.25 level. TP: RM1.33. SL: RM1.17.

HOVID (7213): Price experienced a breakout above the RM0.455 level. TP: RM0.485-RM0.51. SL: RM0.445.

WILLOW (0008): Price staged a short-term consolidation breakout above the RM0.715 level. TP: RM0.86-RM0.91. SL: RM0.71.

Source: M+Online
 

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