M+ Online Morning Buzz - 24 Nov 15: Dow -31.13 pts (-0.17%) @ 17,792.68 pts. The U.S. stockmarkets retreated as the Dow fell 0.2%, after the Markit Manufacturing PMI Flash for November fell to 52.6 – the lowest in 25 months. On the broader market, the S&P 500 pared off earlier gains to close 0.1% lower, on mild profit taking after logging its biggest weekly gain in the previous week. 

The FBM KLCI started off the week on a strong footing yesterday as the key index advanced for the third straight day. The MACD Histogram has extended another green bar, while the RSI has crossed 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 Focus: Construction, Technology

Construction: MITRA, SYCAL, SENDAI
Technology: VITROX, MGRC

Others: OKA, YSPSAH, BINTAI

Potential Momentum Stocks:

SENDAI (5205): Price formed a breakout-pullback-continuation pattern above the EMA9 level. TP: RM0.95-RM1.00. SL: RM0.86.

MGRC (0155): Monitor for a breakout above the RM0.91 consolidation level. TP: RM0.975-RM1.20. SL: RM0.86.

YSPSAH (7178): Price breakout above the RM2.45 level. TP: RM2.75-RM3.00. SL: RM2.33.

Source: M+Online

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