M+ Online Morning Buzz - 15 Dec 15: Dow +103.29 pts (+0.60%) @ 17,368.50 pts. The U.S. stockmarkets rebounded from last week’s losses, led by gains in energy, telecommunications and consumer staples stocks. On the broader market, nine out of the ten main sectors on the S&P 500 ended in the positive territory with the exception of materials sector.

The FBM KLCI however extended its losses for the fifth straight session owing to the stronger volatility in crude oil prices and Ringgit movement. The MACD Histogram has extended another red bar, while the RSI has crossed below the 30 level. The immediate resistance will be envisaged around the 1,660 level. Support is pegged around the 1,600 level.

Sector Focus: Construction, Technology

Construction: HOHUP, BPURI
Technology: N2N, VITROX

Others: BRAHIMS, PELIKAN, NICE, POHKONG

Potential Momentum Stocks: 

BPURI (5932): Monitor for follow-through buying interest above the RM0.45 level. TP: RM0.49-RM0.52 SL: RM0.41.

BRAHIMS (9474): Price continues to stay above the EMA 9 level after making a trendline breakout above the RM0.94 level. TP: RM1.17-RM1.20. SL: RM0.88.

PELIKAN (5231): Follow-through buying interest was seen above the RM0.86 level with surge in volumes. TP: RM0.95-1.00. SL: RM0.82.

Source: M+ Online

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