M+ Online Morning Buzz - 13 Feb 19

Dow Jones: 25,425.76 pts (+372.65pts, +1.49%)
U.S. stockmarkets rallied as the Dow jumped 1.5% higher as investors cheered on the positive developments in Washington whereby lawmakers reached an agreement to avoid another partial government shutdown, coupled with renewed optimism over a potential trade deal between U.S. and China. The immediate resistance is located at 25,500.

FBM KLCI: 1,687.41 pts (-1.15pts, -0.07%)
The FBM KLCI (-0.1%) retreated after lingering mostly in the negative territory, underperforming the mostly positive sentiment across regional peers yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,254 (-RM12, -0.53%)
Crude palm oil prices trended lower for the third straight session, dragged down by the sluggish demand. The immediate resistance is located around RM2,300.

WTI Crude Oil: $53.10 (+$0.69, +1.32%)
Crude oil prices rebounded as Saudi Arabia took a larger-than-expected production cut to alleviate the oversupply condition. The immediate resistance is located at US$55.

Gold: $1,310.80 (+$2.68, +0.21%)
Gold prices rebounded after the Greenback depreciated against a basket of currencies. The immediate resistance is located around $1,350.

Economic Releases:
JP - Japan's Producer Price Index, 7.50AM
UK - United Kingdom's Inflation Rate, 5.30PM
EU - Eurozone's Industrial Production, 6.00PM
US - United States' Inflation Rate, 9.30PM

Potential Momentum Stocks - 13 Feb 19
Stock Name: REVENUE (0200)
Entry: Buy above RM1.23
Target: RM1.34 (8.9%), RM1.38 (12.2%)
Stop: RM1.18 (-4.1%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: TRC (5054)
Entry: Buy above RM0.54
Target: RM0.57 (5.6%), RM0.59 (9.3%)
Stop: RM0.52 (-3.7%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

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