M+ Online Morning Buzz - 27 Nov 15: Dow@17,813.39 pts. Wall Street was closed in conjunction with the Thanksgiving public holiday. Elsewhere, European benchmark indices – FTSE (+0.9%), CAC (+1.1%) and DAX (+1.4%), all rose on speculation that the European Central Bank will inject further stimulus measures to drive Eurozone’s growth next week.

The FBM KLCI closed mildly lower yesterday, on profit taking amongst selective oil & gas heavyweights. The MACD Histogram has extended another green bar, while the RSI hovers 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: Water-related, Construction

Water-related: JAKS, TALIWRK, PBA
Construction: IJM, FAJAR

Others: BHS, MINHO, SCGM

Potential Momentum Stocks:

JAKS (4723): Price formed a bullish engulfing candle above the EMA20 level. TP: RM1.24-RM1.35. SL: RM1.15.

FAJAR (7047): Monitor for a breakout above the RM0.515 level. TP: RM0.565-RM0.585. SL: RM0.495.

BHS (7241): Price breakout above the RM0.40 consolidation level. TP: RM0.46-RM0.52. SL: RM0.38.

Source: M+ Online

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