M+ Online Morning Buzz - 18 Dec 15: Dow -253.25 pts (-1.43%) @ 17,495.84 pts. The U.S. stockmarkets snapped its three-day winning streak overnight amid lower crude oil futures prices. Meanwhile, nine out of the ten main sectors on the S&P 500 ended with steep losses, with the exception of utilities sector. Expectedly, the energy and materials related stocks were amongst the biggest losers.

The FBM KLCI surged yesterday after the Federal Reserve has raised the key interest rate for its first time in nearly a decade. The MACD Histogram has extended another green bar, while the RSI has crossed above 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, Properties

Construction: FUTUTEC, WCT
Properties: IWCITY, TROP

Others: TECGUAN, BAHVEST, ASDION, CHEEWAH

Potential Momentum Stocks: 

TROP (5401): Price has crossed above the RM1.00 resistance level, which happens to coincide with the EMA 200 level. TP: RM1.04-RM1.10 SL: RM0.99.

TECGUAN (7439): Price closed above the EMA 9 level with improvement in volumes. TP: RM1.75-RM1.85. SL: RM1.52.

ASDION (0068): Price formed a flag formation breakout above the RM0.46 level. TP: RM0.55-0.575. SL: RM0.46.

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.