M+ Online Morning Buzz - 14 Jan 16: Dow -364.81 pts (-2.21%) @ 16,516.22 pts. The U.S. stockmarkets tanked overnight as most benchmark indices tumbled to their 3 month low. Negative performances on the broader market was led by losses in consumer discretionary sector, followed by health care and information technology. Concurrently, the Russell 2000 dropped more than 13.0% over the past 10 sessions - its biggest 10 day drop since October 2011.

The FBM KLCI meanwhile extended its gains for the second straight time on the back of positive market breadth and improved trading volumes. The MACD Histogram has extended another red bar, but the RSI hovers above 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, Consumer

FBM ACE: AEMULUS, OPENSYS, OMESTI, PLABS, RESINTC
Consumer: HUPSENG, KHEESAN, CAB

Others: N2N, AYS

Potential Momentum Stocks:

OPENSYS (0040): Monitor for follow-through buying interest above the RM0.305 level. TP: RM0.325-RM0.345. SL: RM0.30.

HUPSENG (5024): Price closed above the EMA 9 level with improved volumes. TP: RM1.39-RM1.46. SL: RM1.27.

AEMULUS (0181): Follow-through buying interest was seen above the RM0.50 level with improved volumes. TP: RM0.565-RM0.615. SL: RM0.485.

Source: M+ Online

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