M+ Online Morning Buzz - 29 Feb 16: Dow -57.32 pts (-0.34%) @ 16,639.97 pts. Despite opening higher at the start of the trading bell, U.S. stockmarkets closed mildly lower last Friday, as the Dow fell 0.3%, in line with the late selling pressure in crude oil prices. On the broader market, the S&P 500 declined 0.2% but the Nasdaq gained 0.2%.

The FBM KLCI recouped most of its previous session losses last Friday, but unable to reverse the earlier weekly losses. 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 will be pegged around the 1,600-1,630 levels.

Sector: Properties, Consumer Products

Properties: TROP, IGB
Consumer Products: NTPM, SPRITZER

Others: KPSCB, SCABLE, MAA, TALIWRK

Potential Momentum Stocks:

TROP (5401): Price has formed a flag-formation breakout above the RM1.11 level. TP: RM1.18-RM1.28. SL: RM1.07.

NTPM (5066): Price has formed a BPC formation above the EMA20 level.  TP: RM1.01. SL: RM0.935.

SCABLE (5170): Price has formed BPC formation above the RM1.56 level. TP: RM1.74-RM1.85. SL: RM1.56.

Source: M+ Online

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