M+ Online Morning Buzz - 22 Dec 15: Dow +123.07 pts (+0.72%) @ 17,251.82 pts. The U.S. stockmarkets started off the week on a positive note as the Dow rebounded from a two-day selldown. On the broader market, the S&P 500 climbed 0.8%, lifted by the gains in technology stocks, while the Nasdaq added 0.9%.

The FBM KLCI closed sharply lower yesterday after crude oil prices dropped to fresh multi-year lows which could lead to a revision of Budget 2016. The MACD Histogram has turned red, while the RSI has tripped 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: FBM ACE, Furniture-related

FBM ACE: OPENSYS, ESCERAM, CWORKS
Furniture-related: SYF, JAYCORP

Others: MINHO, YEELEE, MUDA, HEXZA

Potential Momentum Stocks: 

OPENSYS (0040): Price has breakout above the RM0.305 level. TP: RM0.325-RM0.345. SL: RM0.28.

JAYCORP (7152): Price has breakout above the all-time high of RM1.19. TP: RM1.30-RM1.40 SL: RM1.15.

YEELEE (5584): Monitor for a breakout above the RM2.04 level. TP: RM2.12-RM2.24. SL: RM1.91.

Source: M+ Online

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