M+ Online Morning Buzz - 4 Dec 15: Dow -252.01 pts (-1.42%) @ 17,477.67 pts. The U.S. stockmarkets fell into the negative zone as the Dow declined 1.4% after the expansion monetary program by the European Central Bank did not meet investors’ expectations. On the broader market, the S&P 500 slipped 1.4% with all ten main sectors retreated, dragged by the selloff in the healthcare sector (-2.2%).

The FBM KLCI extended its losses yesterday, but managed to pare down most of its intraday losses. The MACD Histogram has extended another red bar, but the RSI is hovering 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: Consumer Products, Construction

Consumer Products: KHEESAN, PCCS, FFHB
Construction: FAJAR, HOHUP 

Others: SAMCHEM, HALEX, EFFICEN, DUFU

Potential Momentum Stocks: 

KHEESAN (6203): Monitor for a breakout above the RM0.83 level. TP: RM0.93. SL: RM0.79.

FAJAR (7047): Price breakout above the RM0.515 level. TP: RM0.57-RM0.60. SL: RM0.515.

SAMCHEM (5147): Price formed a breakout-pullback-continuation pattern on the EMA120 level. TP: RM0.935-RM1.00. SL: RM0.75.

Source: M+ Online

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