M+ Online Morning Buzz - 15 Jan 16: Dow +227.64 pts (+1.41%) @ 16,379.05 pts. The U.S. stockmarkets rebounded overnight as the S&P 500 and Nasdaq Composite increased 1.7% and 2.0%, respectively. Owing to the jump in crude oil futures, the energy sector outperformed all others amid the rise in all ten main sectors on the broader market.

Concurrently, the FBM KLCI registered some losses yesterday on the back of a negative market breadth. The MACD Histogram has extended another red bar, while the RSI broke below the 50 level. The immediate resistance will be envisaged around the 1,660 level. Support is pegged around the 1,600 level.

Sector: FBM ACE, Consumer

FBM ACE: BIOHLDG, PLABS, ESCERAM
Consumer: PADINI, NIHSIN, YEN, OLDTOWN, CIHLDG

Others: N2N, COMFORT, ENGTEX, HALEX

Potential Momentum Stocks:

CIHLDG (2828): Monitor for follow-through buying interest above the RM2.62 level. TP: RM2.85-RM3.00. SL: RM2.50.

HALEX (5151): Price closed above the EMA 9 level with improved volumes. TP: RM0.75-RM0.85. SL: RM0.655.

ENGTEX (5056): Price remained well supported above the EMA 9 level. TP: RM1.47-RM1.55. SL: RM1.26.

Source: M+ Online

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