M+ Online Morning Buzz - 26 Nov 15: Dow +1.20 pts (+0.01%) @ 17,813.39 pts. Wall Street ended flat overnight on a thin trading ahead of the Thanksgiving public holiday. Meanwhile, a slew of better-than-expected economic data from jobless claims and Markit Services PMI Flash for November kept the interest rate hike in December on the table.

The FBM KLCI extended its gains yesterday, spurred by the buying support amongst selective oil & gas and banking heavyweights. The MACD Line has given a “Buy” signal, while the RSI hovers marginally below 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: Oil & Gas, Consumer Products, Construction

Oil & Gas: SKPETRO, DIALOG
Consumer Products: MWE, PARKSON
Construction: IJM, MUHIBBAH

Others: SUCCESS

Potential Momentum Stocks:

SKPETRO (5218): Price experienced a short-term breakout above the RM2.15 level. TP: RM2.48-RM2.75. SL: RM2.07.

MWE (3921): Monitor for a breakout above the RM1.40 level. TP: RM1.70-RM1.80. SL: RM1.32.

MUHIBAH (5703): Price formed a bullish engulfing candle above the EMA60 level yesterday. TP: RM2.29-RM2.50. SL: RM2.09.

Source: M+ Online

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