M+ Online Morning Buzz - 24 Feb 16: Dow -188.88 pts (-1.14%) @ 16,431.78 pts. U.S. stockmarkets erased most its previous session gains as the Dow declined 1.1%. Consumer Confidence for February 2016 fell to 92.2 - the lowest in seven months On the broader market, the S&P 500 ended 1.3% lower, with only the utilities (+0.1%) sector outperformed while the Nasdaq dipped 1.5%.

The FBM KLCI ended marginally higher yesterday as quick profit taking pared off most of its intraday gains. The MACD Histogram 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: Technology, Building Materials, Consumer Products

Technology: PENTA, REXIT
Building Materials: OKA, KIALIM
Consumer Products: CCK, RSENA, SEM

Others: POS, KKB

Potential Momentum Stocks:

PENTA (7160): Monitor for a breakout above the RM0.71 level. TP: RM0.73-RM0.785. SL: RM0.645.

KIALIM (6211): Price has formed a flag-formation breakout above the RM0.695 level.  TP: RM0.77-RM0.86. SL: RM0.66.

CCK (7035): Price has breakout above the RM1.20 level. TP: RM1.31-RM1.40. SL: RM1.15.

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.