M+ Online Morning Buzz - 18 Feb 16: Dow +257.42 pts (+1.59%) @ 16,453.83 pts. The U.S. stockmarkets rallied for the third straight session as the Dow jumped 1.6% on stronger-than-expected manufacturing production data which rose 1.2% Y.o.Y in January 2016. On the broader market, the S&P 500 gained 1.7% to close above the 1,900 psychological level, marking its longest winning streak in 2016 after crude oil rallied on the reports that Russia & Saudi Arabia has agreed to freeze production.

The FBM KLCI snapped a two consecutive winning streak yesterday on mild profit taking activities. The MACD Histogram extended another green 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, Consumer Products

Plantations: TSH, FGV
Consumer Products: EKA, CAB, CHEEWAH

Others: MHB, HOMERIZ, MUHIBAH

Potential Momentum Stocks:

TSH (9059): Monitor for a breakout above the RM2.04 level. TP: RM2.12-RM2.20. SL: RM1.91.

EKA (7182): Price has formed a breakout-pullback-continuation pattern above the EMA20 level.  TP: RM0.18-RM0.22. SL: RM0.145.

MHB (5186): Monitor for a breakout above the RM1.03 level. TP: RM1.24-RM1.38. SL: RM0..94.

Source: M+ Online

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