M+ Online Morning Buzz - 13 Jan 16: Dow +117.65 pts (+0.72%) @ 16,516.22 pts. The U.S. stockmarkets ended positively overnight as the S&P 500 and Nasdaq Composite snapped an eight straight losing sessions, while the Dow extended its gains for the second consecutive sessions amid the fall in crude oil prices. Gains on the broader market was led by technology and health care sectors. 

Concurrently, the FBM KLCI rebounded with some positive gains yesterday on the back of bargain hunting activities. The MACD Histogram has extended another red bar, while the weekly RSI hovers below the 50 level. The immediate resistance will be envisaged around the 1,700 level. Support is pegged around the 1,600-1,630 levels.

Sector: FBM ACE, Trading/Services, Industrial Products

FBM ACE: TEXCYCL, AEMULUS, KTC
Trading/Services: OWG, PBA, CENTURY
Industrial Products: BIG, TEKALA, KIALIM

Others: OLDTOWN, FIBON, KEINHIN

Potential Momentum Stocks:

ECONBHD (5253): Monitor for follow-through buying interest above the RM1.09 level. TP: RM1.15-RM1.20. SL: RM1.03.

ATURMJU (7181): Price closed above the EMA 9 level with improved volumes. TP: RM0.75-RM0.80. SL: RM0.65.

OCNCASH (0049): Price made a breakout above the RM0.46 level with high volumes. TP: RM0.50-RM0.525. SL: RM0.435.

Source: M+ Online

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