M+ Online Morning Buzz - 7 Jan 16: Dow -252.15 pts (-1.47%) @ 16,906.51 pts. The U.S. stockmarkets extended its losses for the second straight session amid the drop in crude oil prices and North Korea’s nuclear test. Consequently, the Dow and S&P 500 fell below their psychological levels, 17,000 and 2,000, respectively, while the Nasdaq fell 1.1%.

The FBM KLCI extended its rebound on the back of a positive market breadth and selective buying interest amongst lower liners and industrials. The MACD Histogram has extended another red bar, but the RSI still 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: Building materials, Consumer, Properties

Building materials: DOLMITE, BIG
Consumer: JERASIA, NTPM, YEN
Properties: MATRIX, IOIPG

Others: MRCB, MIKROMB 

Potential Momentum Stocks:

BIG (7005): Price experienced a breakout above RM0.62 with high volumes. TP: RM0.725. SL: RM0.57.

MIKROMB (0112): Price experienced a breakout above RM0.44 with high volumes. TP: RM0.55-RM0.60. SL: RM0.42.

YEN (7184): Monitor for a breakout above RM0.45. TP: RM0.55. SL: RM0.425.

Source: M+ Online

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