M+ Online Morning Buzz - 8 Dec 15: Dow -117.12 pts (-0.66%) @ 17,730.51 pts. Following the fall in the crude oil prices and losses amongst the energy related companies, the U.S. stockmarkets fell into the negative territory as the S&P 500 and Dow fell by 0.7% respectively, while the Nasdaq declined 0.8%. The aforementioned fall was attributable to OPEC’s decision to keep current production levels intact.

Meanwhile, the FBM KLCI, however ended in the positive territory yesterday amid the positive market breadth and improvement in trading volumes. 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: Construction, Export-related, Technology

Construction: FUTUTEC, GBGAQRS
Export-related: SUPERMX, EVERGRN
Technology: JFTECH, PENTA, D&O

Others: ANCOM, SCABLE, CHINWEL

Potential Momentum Stocks: 

SCABLE (5170): Price closed above the EMA 9 level with high volumes. TP: RM1.80. SL: RM1.55.

PENTA (7160): Monitor for follow-through buying interest above the RM0.73 level. TP: RM0.80-RM0.83. SL: RM0.715.

D&O (7204): Price closed above the EMA 9 level. TP: RM0.40-RM0.43. SL: RM0.36.

Source: M+ Online

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