M+ Online Morning Buzz - 31 Dec 15: Dow -117.11 pts (-0.66%) @ 17,603.87 pts. U.S. stockmarkets retreated as the Dow fell 0.7% with the selling pressure accelerated in the final trading hour. Meanwhile, the S&P 500 (-0.7%) erased most of its previous session gains, dragged by the energy sector (-1.3%).

The FBM KLCI registered its fifth consecutive winning streak yesterday, taking cues from the sharp overnight gains in Wall Street. The MACD Histogram has extended another green bar, while the RSI hovers above the 50 level. The immediate resistance will be envisaged around the 1,700-1,730 level. Support is pegged around the 1,660 level.

Sector: FBM ACE, Plantation

FBM ACE: MPAY, PLABS, MGRC
Plantation: RSAWIT, KRETAM

Potential Stocks: EVERGRN, ENGTEX, TAS, PPHB, CCM, IKHMAS

Potential Momentum Stocks:

EVERGRN (5101): Price has formed a breakout-pullback-continuation pattern above the EMA60 level. TP: RM2.44-RM2.60. SL: RM2.18.

TAS (5149): Monitor for the trendline breakout above the RM0.77 level. TP: RM0.83-RM0.88. SL: RM0.71.

CCM (2879): Monitor for a breakout above the RM1.02 consolidation level. TP: RM1.10. SL: RM0.985.

Source: M+ Online

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