M+Online Morning Buzz: Dow +138.46 pts (+0.82%) @ 17,050.75 pts. Despite opening lower at the start of the trading bell, the U.S. stockmarkets extended its gains as the Dow climbed 0.85 to mark its fifth consecutive winning streak, closing above the 17,000 psychological level after the Federal Reserve announced that the low inflation rate proved as a hurdle for the increase in interest rates. On the broader market, the S&P 500 added 0.9% to close above the 2,000 psychological level, lifted by the energy sector (+1.9%) as oil price rallied to 3-month high.

The FBM KLCI closed marginally higher yesterday, lifted by gains in selective banking heavyweights. 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 1,700-1,720 levels. Support is pegged around the 1,560-1,600 levels.

Sector Focus: Oil and Gas, Healthcare-related

Oil and Gas: MHB, SKPETRO, MUHIBAH
Healthcare-related: YSPSAH, RUBEREX, STEMLFE

Others: PASUKGB, BENALEC, TUNEPRO, ECOWLD

Potential Momentum Stocks:

MHB (5186): Price extended its uptrend above RM1.10 with high volumes. TP: RM1.24-RM1.37. SL: RM1.00.

STEMLFE (0137): Price is hovering above EMA9. Monitor for a breakout above RM0.39. TP: RM0.44. SL: RM0.38.

ECOWLD (8206): Monitor for a consolidation breakout above the RM1.39 level. TP: RM1.46-RM1.53. SL: RM1.35.

Source: M+Online

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