M+Online Morning Buzz: Dow +122.10 pts (+0.73%) @ 16,912.29 pts. The U.S. stockmarkets advanced as the Dow rose 0.7% to mark its longest winning streak since July 2015. On the broader market, the S&P 500 climbed 0.8% to close near the 2,000 psychological level as healthcare stocks rebounded, while the Nasdaq added 0.9%.

The FBM KLCI extended its gains yesterday, supported by the return of foreign funds. 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, Water-related, Plantations

Oil & Gas: KKB, SKPETRO, MHB
Water-related: SALCON, JAKS
Plantations: FGV, GLBHD

Others: HARBOUR, OCK

Potential Momentum Stocks:

MHB (5186): Price experienced a breakout above the RM1.10 level. TP: RM1.24-RM1.38. SL: RM1.07.

JAKS (4723): Price experienced a consolidation breakout above the RM1.18 level. TP: RM1.34-RM1.50. SL: RM1.12.

GLBHD (7382): Price rose above the RM1.54 immediate resistance level. TP: RM1.68-RM1.88. SL: RM1.47.

Source: M+Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.