M+ Online Morning Buzz - 18 Jan 16: Dow-390.97 pts (-2.39%) @ 15,988.08 pts. U.S. stockmarkets ended sharply lower on last Friday as the Dow fell 2.4% to close below the 16,000 psychological level. On the broader market, the S&P 500 slipped 2.2%, after re-tested the previous low in August 2015 as all ten main sectors retreated, while the Nasdaq declined 2.7%.

The FBM KLCI extended its losses on last Friday as the key index logged a second consecutive weekly losing streak, in line with the weakness in global stockmarkets. The MACD Histogram has extended another red bar, while the RSI hovers below the 50 level. The immediate resistance will be envisaged around the 1,660 level. Support is pegged around the 1,550-1,600 levels.

Stocks Focus: PTARAS, CSCSTEL, VOIR, E&O, CIHLDG, JADI, RAYA

Potential Momentum Stocks:

CSCSTEL (5094): Monitor for a breakout above the RM1.15 level. TP: RM1.30-RM1.35. SL: RM1.09.

CIHLDG (2828): Price surged to breakout above the RM2.85 resistance level. TP: RM3.12. SL: RM2.64.

JADI (7223): Monitor for a breakout above the RM0.11 level. TP: RM0.145-RM0.15. SL: RM0.08.

Source: M+ Online

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