M+ Online Morning Buzz - 2 Dec 15: Dow +168.43 pts (+0.95%) @ 17,888.35 pts. Wall Street advanced overnight as the Dow shrugged off the weaker-than-expected November’s ISM manufacturing data to close 1.0% higher. On the broader market, the S&P 500 added 1.1%, anchored by gains in the healthcare sector (+1.7%), while the Nasdaq rose 0.9%. 

The FBM KLCI rebounded yesterday on bargain hunting activities amidst the positive market breadth. The MACD Histogram has turned green, 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: Properties, Consumer Products, Construction

Properties: ECOWLD, IOIPG, AMPROP, DBHD
Consumer Products: PADINI, CCB
Construction: MITRA EDGENTA

Others: MAA, EITA

Potential Momentum Stocks:

ECOWLD (8206): Price formed a flag-formation breakout above the RM1.42 level. TP: RM1.49-RM1.60. SL: RM1.35.

DBHD (9571): Price formed a short-term breakout above the RM0.89 level. TP: RM1.00-RM1.08. SL: RM0.82.

CCB (2925): Price formed a flag-formation breakout above the RM3.15 level. TP: RM3.49-RM3.63. SL: RM2.96.

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.