M+ Online Morning Buzz - 5 Feb 16: Dow +79.92 pts (+0.49%) @ 16,416.58 pts. U.S. stockmarkets extended their gains on a choppy trading session as the Dow rose 0.5%, despite the Factory Orders for December 2015 fell 2.9% M.o.M. On the broader market, the S&P 500 climbed 0.2%, anchored by gains from basic materials (+2.8%) and industrials (+1.7%) sectors while the Nasdaq closed 0.1% higher.

Tracking the strong gains in Wall Street overnight, the FBM KLCI closed sharply higher yesterday after two sessions of heavy selloff. The MACD Histogram has turned green, while the RSI has crossed above 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: Oil & Gas, Plantations

Oil & Gas: DIALOG, PERISAI, SKPETRO
Plantations: TDM, RSAWIT, JTIASA

Others: KEINHIN, DUFU

Potential Momentum Stocks:

SKPETRO (5218): Monitor for a breakout above the RM1.88 resistance level. TP: RM2.05-RM2.29. SL: RM1.66.

RSAWIT (5113): Price has breakout above the RM0.54 level. TP: RM0.57-RM0.635. SL: RM0.52.

KEINHIN (7199): Price has formed a bullish engulfing candle to close above the EMA20 level. TP: RM1.18-RM1.29. SL: RM0.895.

Source: M+ Online

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