M+ Online Morning Buzz - 9 Dec 15: Dow -162.51 pts (-0.92%) @ 17,568.00 pts. The U.S. stockmarkets extended its losses for the second straight session on the back of a continual decline in crude oil prices. Once again, the energy and materials related stocks on the broader market were affected, while the gains in biotechnology stocks has helped to pare most of the losses in the Nasdaq Composite. 

The FBM KLCI registered some losses yesterday amid the decline in regional markets and crude oil prices. 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: Properties, Consumer

Properties: BCB, MATRIX, TROP
Consumer: SYF, YEN

Others: MICROLN, EKOVEST, TEKSENG, FIBON

Potential Momentum Stocks: 

TROP (5401): Monitor for breakout above the RM1.00 psychological level. TP: RM1.04-RM1.10 SL: RM0.975.

FIBON (0149): Price is well supported above the EMA 9 level. TP: RM0.75-RM0.80. SL: RM0.625.

YEN (7184): Price closed above the EMA 9 level with high volumes. TP: RM0.48-RM0.52. SL: RM0.415.

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.