M+ Online Morning Buzz - 4 Feb 16: Dow +183.12 pts (+1.13%) @ 16,336.66 pts. Wall Street rebounded from its previous session’s slump as the Dow rose 1.0% after retesting the intra-day low near the 16,000 psychological level. On the broader market, the S&P 500 added 0.5%, lifted by gains in energy (+2.5%) and basic materials (+2.6%) sectors after crude oil along with other commodity prices rallied.

The FBM KLCI endured another day of selloff, owing to the profit taking in oil & gas heavyweights. The MACD Histogram has turned red, while the RSI has tripped below the 50 level. The immediate resistance will be envisaged around the 1,700 level. Support is pegged around the 1,600-1,630 levels.

Sector: Technology, Plastic-related

Technology: COMCORP, PENTA, JHM
Plastic-related: MUDA, CENBOND

Others: TALIWRK, EMICO, YSPSAH 

Potential Momentum Stocks:

JHM (0127): Price has formed a breakout-pullback-continuation pattern above the EMA120 level. TP: RM0.505-RM0.565. SL: RM0.415.

CENBOND (7171): Monitor for a breakout above the RM1.45 level .TP: RM1.57-RM1.69. SL: RM1.34.

YSPSAH (7178): Price has formed a bullish engulfing candle to close above the EMA20 level. TP: RM2.93-RM3.49. SL: RM2.49.

Source: M+ Online

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