M+ Online Morning Buzz - 2 Mar 16: Dow +348.58 pts (+2.11%) @ 16,865.08 pts. U.S. stockmarkets logged its biggest daily gain since January as the Dow closed 2.1% higher after the Institute Supply Manufacturing Index for February rose to 49.5 – the highest in five months. Meanwhile, the S&P 500 jumped 2.4%, recovering all of previous two session losses, led by gains in financials and technology sector, while the Nasdaq surged 2.9%.

The FBM KLCI staged a sharp rebound yesterday on the back of firmer Ringgit and stabilising crude oil prices. The MACD Line has given a BUY signal, while the RSI has crossed 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: Oil & Gas, Consumer

Oil & Gas: DAYANG, COASTAL, UMWOG, DELEUM
Consumer: RESINTC, POHKONG

Others: AWC, EITA

Potential Momentum Stocks:

DAYANG (5141): Price has formed a flag-formation breakout above the RM1.32 level. TP: RM1.40-RM1.56. SL: RM1.23.

DELEUM (5132): Price has formed a BPC formation above the RM1.02 level. TP: RM1.15-RM1.25. SL: RM1.02.

AWC (7579): Price has breakout above the RM0.445 level. TP: RM0.475-RM0.575. SL: RM0.425.

Source: M+ Online

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