M+ Online Morning Buzz - 15 Feb 16: Dow +313.66 pts (+2.00%) @ 15,973.84 pts. The U.S. stockmarkets snapped a streak of five consecutive losses on last Friday as the Dow rose 2.0%. On the broader market, the S&P 500 gained 2.0%, aided by the rally in crude oil prices following reports of potential output cut by the OPEC members.

The FBM KLCI extended its weekly losses on a thin trading week, dragged down by profit taking in oil & gas and telco heavyweights. The weekly MACD Histogram turned red, 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: Oil & Gas, Consumer Products

Oil & Gas: DIALOG, SKPETRO, ARMADA
Consumer Products: NIHSIN, SPRITZER

Others: SCICOM, IMASPRO, CHINWEL

Potential Momentum Stocks:

DIALOG (7277): Monitor for a breakout above the RM1.60 level. TP: RM1.70-RM2.00. SL: RM1.50.

SPRITZER (7103): Monitor for a consolidation breakout above the RM2.41 level. TP: RM2.60-RM2.80. SL: RM2.20.

IMASPRO (7222): Price has formed a bullish engulfing candle on the EMA20 level. TP: RM2.05-RM2.20. SL: RM1.82.

Source: M+ Online

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