M+ Online Morning Buzz - 1 Dec 15: Dow -78.57 pts (-0.44%) @ 17,719.92 pts. Wall Street closed lower overnight as the Dow fell 0.4%, dragged by weaker-than-expected Chicago PMI data, which fell to 48.7 in November 2015. On the broader market, the S&P 500, declined 0.5%, but managed to close higher by 0.1% M.o.M, while crude oil prices gave up earlier gains to close in the red. 

The FBM KLCI closed lower yesterday, but managed to shrug off most of its intraday losses. The MACD Histogram has turned red, 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: Construction

Construction: GBGAQRS, SENDAI

Others: HEXZA, OCNCASH, UCHITEC, GDEX, HALEX, ESCERAM

Potential Momentum Stocks:

SENDAI (5205): Price formed a breakout-pullback-continuation pattern above the EMA120 level. TP: RM0.92-RM1.00. SL: RM0.815.

OCNCASH (0049): Price formed a hammer candle on the RM0.39 support level. TP: RM0.47-RM0.50. SL: RM0.39.

GDEX (0078): Price formed a flag-formation breakout above the RM1.50 level. TP: RM1.66-RM1.76. SL: RM1.45.

Source: M+ Online

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