M+ Online Morning Buzz - 30 Dec 15: Dow +192.71 pts (+1.10%) @ 17,720.98 pts. Wall Street closed sharply higher overnight as the Dow gained 1.1% after crude oil prices rebounded. On the broader market, the S&P 500 added 1.1% as 95% of its components advanced, while the Nasdaq rose 1.3%.
Following the gains in key regional indices, the FBM KLCI closed higher for the fourth straight session yesterday. The MACD Histogram has extended another green bar, while the RSI hovers above the 50 level. The immediate resistance will be envisaged around the 1,695-1,700 level. Support is pegged around the 1,630 level.
Sector Focus: FBM ACE
FBM Ace: KRONO, OPCOM, K1, TECFAST
Others: CENSOF, ECONBHD, KRETAM
Potential Momentum Stocks:
OPCOM (0035): Price breakout above the RM0.755 level. TP: RM0.90. SL: RM0.705.
CENSOF (5195): Price has breakout above the RM0.30 short-term resistance level. TP: RM0.32-RM0.345. SL: RM0.29.
KRETAM (1996): Monitor for a breakout above the RM0.48 resistance level. TP: RM0.52-RM0.585. SL: RM0.44.
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.