M+ Online Morning Buzz - 28 Jan 16: Dow -222.77 pts (-1.38%) @ 15,944.46 pts. The U.S. stockmarkets endured another volatile trading session as the Dow swung between gains and losses before closing 1.4% lower. On the broader market, the S&P 500 fell 1.1%, dragged down by the weak corporate earnings from Apple Inc. and Boeing Co. while the Nasdaq slipped 2.2%.

The FBM KLCI rose for the third straight session yesterday, owing to buying support amongst the oil & gas heavyweights. The MACD Histogram has extended another green bar, while the RSI continues to hover above the 30 level. The immediate resistance will be envisaged around the 1,660 level. Support is pegged around the 1,550-1,600 levels.

Sector: Consumer Products, Plantations

Consumer Products: BIOHLDG, ACOSTEC
Plantations: JTIASA, RSAWIT, CEPAT

Others: AIRASIA, STONE, ECS

Potential Momentum Stocks:

ACOSTEC (7120): Price has formed a consolidation breakout above RM0.67 level. TP: RM0.725-RM0.745. SL: RM0.65.

JTIASA (4383): Monitor for a breakout above RM1.50 level. TP: RM1.63-RM1.81. SL: RM1.38.

AIRASIA (5099): Monitor for a trendline breakout above the RM1.36 level. TP: RM1.45-RM1.61. SL: RM1.32.

Source: M+ Online

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