M+ Online Morning Buzz - 7 Dec 15: Dow -369.96 pts (+2.12%) @ 17,847.63 pts. The U.S. stockmarkets logged one of its biggest one-day gains in three months amid the strong jobs report – 211,000 of jobs was added last month, while the unemployment rate remained at 5.0%. This has reaffirmed the Federal Reserve stance to hike the interest rates by later this month. Separately, the OPEC has agreed to leave the current crude oil production levels unchanged.

The FBM KLCI registered a negative week owing to the selloffs in the O&G and financial heavyweights. The weekly MACD Histogram has turned red, 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: Furniture/Timber related, Properties

Furniture/Timber related: DOMINAN, JAYCORP
Properties: IOIPG, GLOMAC, YTLLAND

Others: CCB, PRESBHD, TMCLIFE, OCNCASH

Potential Momentum Stocks: 

IOIPG (5249): Price stayed above the EMA 9 level with improved volumes. TP: RM2.50. SL: RM2.20.

YTLLAND (2577): Price breakout above the RM0.705 level. TP: RM0.77-RM0.815. SL: RM0.69.

PRESBHD (5204): Monitor for a breakout above the RM2.69 level. TP: RM2.90-RM3.00. SL: RM2.61.

Source: M+ Online

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