M+ Online Morning Buzz - 2 Feb 16: Dow -17.12 pts (-0.10%) @ 16,449.18 pts. Wall Street had a mild pullback overnight as the Dow fell 0.1% on the back of concerns over China’s weak manufacturing data. On the broader market, the S&P 500 ended 0.1% lower, but the Nasdaq rose 0.1%, lifted by strong corporate earnings from Google and Facebook.

The FBM KLCI registered its first winning week for the month, in tandem with the strong gains in global stockmarkets. The weekly MACD Histogram has turned green, while the weekly RSI continues to hover above the 30 level. The immediate resistance will be envisaged around the 1,700 level. Support is pegged around the 1,600-1,630 levels.

Sector: Plantations, Construction

Plantations: TDM, FGV
Construction: MITRA, GADANG

Others: KKB, CMSB, MIKROMB, SCICOM

Potential Momentum Stocks:

TDM (2054): Monitor for a breakout above the RM0.67 level. TP: RM0.735-RM0.785. SL: RM0.64.

MITRA (9571): Monitor for a breakout above the RM1.16 level. TP: RM1.32. SL: RM1.02.

CMSB (2852): Price experienced a breakout above the RM5.16 level. TP: RM5.43-RM6.00. SL: RM5.00.

Source: M+ Online

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