M+ Online Morning Buzz - 10 Dec 15: Dow -75.70 pts (-0.43%) @ 17,492.30 pts. Despite the strong rebound in energy and materials sectors, the U.S. stockmarkets were dressed in red amid the selloffs in technology and consumer discretionary sectors. Some of the stocks in focus yesterday were Yahoo Inc. and Costco Wholesale Corp.

Meanwhile, the FBM KLCI extended its losses yesterday below the 1,660 support level on the back of a negative market breadth, accompanied by declining trading volumes. The MACD Histogram has extended another red bar, while the RSI has crossed below 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: FBM ACE, Consumer, Construction

FBM ACE: EAH, ESCERAM, JFTECH, IFCAMSC
Consumer: POHKONG, FFHB
Construction: KIMLUN, WCT, SEACERA

Others: ARANK

Potential Momentum Stocks: 

SEACERA (7073): Monitor for follow-through buying interest above the RM0.765. TP: RM0.815-RM0.86 SL: RM0.705.

IFCAMSC (0023): Price has made an immediate breakout above the RM1.03 level. TP: RM1.07-RM1.14. SL: RM0.975.

POHKONG (5080): Price has formed a flag formation breakout above the RM0.53 level. TP: RM0.59-RM0.65. SL: RM0.515.

Source: M+ Online

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