M+ Online Morning Buzz - 23 Dec 15: Dow +165.65 pts (+0.96%) @ 17,417.27 pts. Wall Street closed higher for the second straight session as the Dow rose 1.0% after reporting that its 3Q2015 revised GDP grew 2.0% - above economists’ estimates of 1.9%. On the broader market, the S&P 500 added 0.9%, with all ten main sectors closed in the positive, while the Nasdaq gained 0.7% to close marginally above the 5,000 psychological level.

The FBM KLCI staged a sharp recovery yesterday as the key index was traded in the positive territory for the entire trading session. The MACD Histogram has turned green, while the RSI has stayed 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: Consumer Products, Building-materials

Consumer Products: PELIKAN, YOCB, PELIKAN
Building-materials: OKA, BIG, STONE

Others: PLABS, WCT

Potential Momentum Stocks: 

YOCB (5159): Monitor for a breakout above the RM1.06 level. TP: RM1.17-RM1.40. SL: RM0.99.

OKA (7140): Monitor for a breakout above the RM0.92 level. TP: RM0.97-RM0.98 SL: RM0.90.

WCT (9679): Monitor for a breakout above the RM1.52 level. TP: RM1.58-RM1.80. SL: RM1.45.

Source: M+ Online

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