M+ Online Morning Buzz - 16 Dec 15: Dow +156.41 pts (+0.90%) @ 17,524.91 pts. The U.S. stockmarkets extended its rebound for its second straight session amid the jump in crude oil prices. On the broader market, energy, financials and healthcare sectors led the gainers as all of the ten main sectors on the S&P 500 ended in the positive territory.

Meanwhile, the FBM KLCI continued to stay in the negative territory amid the slight improvement in market breath. The MACD Histogram has extended another red bar, while the RSI hovers 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, Metal-related, Furniture

Construction: HOHUP
Metal-related: EWEIN, ARANK
Furniture: FFHB, SYF, PRG

Others: EFFICEN

Potential Momentum Stocks: 

FFHB (8605): Monitor for follow-through buying interest above the RM0.71 level. TP: RM0.75-RM0.77 SL: RM0.67.

SYF (7082): Price surged above the EMA 9 level. TP: RM0.58-RM0.60. SL: RM0.51.

ARANK (7214): Price formed a Breakout-Pullback-Continuation pattern above the EMA 9 level with high volumes. TP: RM0.70-0.76. SL: RM0.60.

Source: M+ Online

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