M+ Online Morning Buzz - 21 Jan 16: Dow -249.28 pts (-1.56%) @ 15,766.74 pts. The U.S. stockmarkets endured another day of volatile session as the Dow fell 1.6%, but managed to pare some of its intraday losses. On the broader market, the S&P 500 fell 1.2%, dragged down by the energy sector (-2.9%) as the crude oil prices selloff remain unabated.

The FBM KLCI closed lower yesterday, in line with the weakness in key regional indices. The MACD Histogram has turned green, while the RSI has tripped below the 30 level. The immediate resistance will be envisaged around the 1,630 level. Support is pegged around the 1,550-1,600 levels.

Sector: Technology, Consumer Products

Technology: VITROX, MICROLN, CWORKS, UNISEM
Consumer Products: SPRTZER, NTPM, FARMBES
 
Others: IDEAL

Potential Momentum Stocks:

MICROLN (0126): Price has formed a Breakout-Pullback-Continuation pattern above the EMA9 level. TP: RM1.75-RM1.95. SL: RM1.58.

VITROX (0097): Price has formed a Breakout-Pullback-Continuation pattern above the RM3.14 level. TP: RM3.50-RM3.85. SL: RM3.14.

NTPM (5066): Monitor for a breakout above the RM0.995 consolidation level. TP: RM1.10-RM1.20. SL: RM0.945.

Source: M+ Online

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