M+ Online Morning Buzz - 11 Dec 15: Dow +82.45 pts (+0.47%) @ 17,574.75 pts. The U.S. stockmarkets rebounded overnight led by gains in healthcare and energy stocks. In contrast, utilities and materials sectors were amongst the biggest losers on the S&P 500 sectors. Separately, the new applications for unemployment benefits rose higher-than-expected (13,000) to 282,000 in the week ended on 5th December 2015.

Following the losses in most index-linked heavyweights, the FBM KLCI continued to register losses for its third straight session. The MACD Histogram has extended another red bar, while the RSI has hovers above the 30 level. The immediate resistance will be envisaged around the 1,700 level. Support is pegged around the 1,600-1,630 levels.

Sector Focus: Technology

Technology: N2N, EFFICEN, MPAY

Others: EG, TEKSENG, APB, HALEX, TEXCHEM, JAYCORP

Potential Momentum Stocks: 

N2N (0108): Monitor for follow-through buying interest above the RM1.00 psychological level. TP: RM1.05-RM1.10 SL: RM0.94.

EFFICEN (0064): Price formed a flag formation breakout above the RM0.31 level. TP: RM0.33-RM0.35. SL: RM0.305.

APB (5568): Price surged above the EMA 9 level with improvement in volumes. TP: RM1.57. SL: RM1.40.

Source: M+ Online

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