M+ Online Morning Buzz - 16 Feb 16: Dow @ 15,973.84 pts. The U.S. stockmarkets was closed for the President’s Day public holiday. Elsewhere, European benchmark indices extended their gains after the European Central Bank has announced of further stimulus measures to be injected in the economy in March 2016.
The FBM KLCI staged a mild rebound yesterday, in line with the positive market sentiment across global stockmarkets. The MACD Histogram, however, has extended another red bar, while the RSI continues to hover 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: Plantations, Building Materials
Plantations: TDM, RSAWIT
Building Materials: OKA, BIG
Others: LIIHEN, MITRA, BHS, KEYASIC
Potential Momentum Stocks:
TDM (2054): Monitor for a trendline breakout above the RM0.71 level. TP: RM0.785-RM0.885. SL: RM0.68.
OKA (7140): Monitor for a consolidation breakout above the RM0.925 level. TP: RM0.975-RM1.04. SL: RM0.885.
KEYASIC (0143): Price has formed a BPC pattern on the EMA9 level. TP: RM0.23-RM0.25. SL: RM0.175.
Source: M+ Online
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