M+ Online Morning Buzz - 12 Jan 16: Dow +52.12 pts (+0.32%) @ 16,398.57 pts. The U.S. stockmarkets ended mostly unchanged overnight amid the drop in crude oil prices which fell to its 12-year low. Consequently, energy sector led the losses on the S&P 500, while materials sector was the second-worst performer. 

Meanwhile, the FBM KLCI fell into the red yesterday on the back of a decline in crude oil prices and downgrade on its economy outlook. The MACD Histogram has turned red, but the weekly RSI broke below the 50 level. The immediate resistance will be envisaged around the 1,660 level. Support is pegged around the 1,600-1,630 levels.

Sector: FBM ACE, Consumer, Industrial Products

FBM ACE: EDUSPEC, OPCOM, OMESTI
Consumer: FPI, YEN, EMICO
Industrial Products: BIG, SCIB

Others: YONGTAI

Potential Momentum Stocks:

EMICO (9091): Monitor for follow-through buying interest above the RM0.37 level. TP: RM0.43-RM0.465. SL: RM0.32.

YONGTAI (7066): Price closed above the EMA 9 level with high volumes. TP: RM0.83-RM0.90. SL: RM0.73.

ENGTEX (5056): Price made a breakout above the RM1.32 level with high volumes. TP: RM1.46-RM1.60. SL: RM1.25.

Source: M+ Online

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