M+ Online Morning Buzz - 25 Nov 15: Dow +19.51 pts (+0.11%) @ 17,812.19 pts. The U.S. stockmarkets pared its intraday losses to close in the positive territory as the Dow added 0.1%. On the broader market, the S&P 500 finished 0.1% higher as well, lifted by the energy sector (+2.2%) as oil prices rallied after news that a Russian jet was downed near the Syrian border.
The FBM KLCI rose for the fourth straight day yesterday as the Ringgit was firmer against the USD. The MACD Histogram has extended another green bar, while the RSI hovers at 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: Water-related
Water-related: SALCON, ENGTEX
Others: FUTUTEC, ARMADA, SUNZEN, DSONIC, KHEESAN
Potential Momentum Stocks:
ARMADA (5210): Price breakout above the RM1.05 level. TP: RM1.16. SL: RM1.00.
FUTUTEC (7161): Price formed a flag-formation above the RM1.51 level. TP: RM1.84-RM2.00. SL: RM1.51.
DSONIC (5216): Price formed a breakout-pullback-continuation pattern above the RM1.58 level. TP: RM1.74-RM2.00. SL: RM1.58.
Source: M+Online
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