M+ Online Morning Buzz - 14 Dec 15: Dow -309.54 pts (-1.76%) @ 17,265.21 pts. The U.S. stockmarkets posted one of their largest weekly losses since August 2015 as the Nasdaq and Dow fell 4.1% and 3.3%, respectively last week. On the S&P 500, all the ten main sectors ended in the negative territory, with the energy sector slumped by 3.4%, while the benchmark index posted a 3.8% loss over the week. 

Meanwhile, the FBM KLCI registered its second consecutive weekly losses amid the drop in crude oil prices and losses amongst several index heavyweights. The MACD Histogram has extended another red bar, but the weekly 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

Properties: ECOWLD, SYMLIFE

Others: BRAHIMS, MAA, ZECON, BAHVEST, CYPARK

Potential Momentum Stocks: 

BRAHIMS (9474): Monitor for follow-through buying interest above the RM1.02 level. TP: RM1.15-RM1.17 SL: RM0.90.

ZECON (7028): Price rebounded off the EMA9 level with improved volumes. TP: RM0.865-RM0.965. SL: RM0.75.

MAA (1198): Price is well supported above the EMA 9 level with improvement in volumes. TP: RM0.925-0.95. SL: RM0.88.

Source: M+ Online

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