M+ Online Morning Buzz - 4 Jan 16: Dow -178.84 pts (-1.02%) @ 17,426.03 pts. The U.S. stockmarkets ended mostly negative for the year 2015 as the Dow posted its first annual loss since 2008, while the S&P 500 snapped its three-year winning streak. The Nasdaq meanwhile was the only outperformer, which makes its fourth gains in a row – its longest winning streak since 2007.

The FBM KLCI fell on the last trading day of 2015, whilst extending its Y.o.Y losses on the back of slightly negative market breadth and low trading volumes. The weekly MACD Histogram has extended another green bar, while the weekly 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: Consumer, Construction

Consumer: BONIA, NTPM, PWROOT
Construction: ECONBHD, HOHUP

Potential Stocks: TROP, BPLANT, FFHB, MPAY

Potential Momentum Stocks:

PWROOT (7237): Price has formed a bullish engulfing bar. TP: RM3.00-RM3.30. SL: RM2.55.

ECONBHD (5253): Monitor for the breakout above the RM1.09 level. TP: RM1.13-RM1.20. SL: RM1.04.

BPLANT (5254): Monitor for follow-through buying interest above the RM1.49 level. TP: RM1.56-RM1.61. SL: RM1.40.

Source: M+ Online

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