M+ Online Morning Buzz - 26 Jan 16: Dow -208.29 pts (-1.29%) @ 15,885.22 pts. The U.S. stockmarkets snapped a two straight days of gains as the Dow closed 1.3% lower with losses accelerated in the final trading hour. On the broader market, the S&P 500 fell 1.6% on renewed selloff in crude oil prices while the Nasdaq slipped 1.6%.

The FBM KLCI closed sharply higher on last Friday, taking cue from the strong gains in global stockmarkets. The MACD Histogram has turned green, while the RSI has crossed above 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: Consumer Products, Construction, Oil & Gas

Consumer Products: BRAHIMS, HOVID, KHEESAN
Construction: SENDAI, SUNCON
Oil & Gas: KNM, SKPETRO

Others: MICROLN, HEVEA

Potential Momentum Stocks:

BRAHIMS (9474): Price has formed a Breakout-Pullback-Continuation pattern on the EMA120 level. TP: RM1.10-RM1.17. SL: RM0.925.

SUNCON (5263): Monitor for a breakout above the RM1.41 consolidation level. TP: RM1.45-RM1.60. SL: RM1.32.

KNM (7164): Monitor for a breakout above the RM0.47 consolidation level. TP: RM0.51-RM0.55. SL: RM0.43.

Source: M+ Online

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