M+ Online Morning Buzz - 17 Dec 15: Dow +224.18 pts (+1.28%) @ 17,749.09 pts. The U.S. stockmarkets extended its gains for the third consecutive time after the Federal Reserve has raised the interest rate for the first time in nearly a decade. Meanwhile, utilities and telecoms led the sector gainers on the S&P 500, while energy stocks ended lower on lower crude oil prices.

Meanwhile, the FBM KLCI finally staged a rebound yesterday on the back of a positive market breadth and improvement in trading volumes. The MACD Histogram has extended turned green, while the RSI is still hovering 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: Export-related, Furniture

Export-related: POHUAT, HOMERIZ
Furniture: FFHB

Others: SKPRES, TGUAN, YONGTAI, CAB

Potential Momentum Stocks: 

GDEX (0078): Monitor for follow-through buying interest above the RM1.59 level. TP: RM1.70-RM1.80 SL: RM1.52.

EURO (7208): Price closed above the EMA 9 level. TP: RM0.27-RM0.30. SL: RM0.23.

OCNCASH (0049): Price closed above the EMA 9 level with slight improvement in volumes. TP: RM0.44-0.47. SL: RM0.40.

Source: M+ Online

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