M+ Online Morning Buzz - 11 Feb 16: Dow -99.64 pts (-0.62%) @ 15,914.74 pts. The U.S. stockmarkets extended their losses for the fourth straight session as the Dow (-0.6%) gave up all its intraday gains to close red in the final trading hour. On the broader market, the S&P 500 ended marginally lower as crude oil prices fell to a three-week low but the Nasdaq snapped a three consecutive losing streak to climb 0.4%. 

The FBM KLCI closed sharply lower yesterday, in line with the weakness across key regional indices. The MACD Histogram has turned red, while the RSI continues to hover above the 50 level. The immediate resistance will be envisaged around the 1,700 level. Support is pegged around the 1,600-1,630 levels.

Sector: FBM Ace, Construction

FBM Ace: ESCERAM, BIOHLDG
Construction: ZECON, KIMLUN

Others: COMFORT, POHKONG, SEM

Potential Momentum Stocks:

ESCERAM (0100): Price has formed a bullish engulfing candle to breakout above the RM0.525 consolidation level. TP: RM0.605-RM0.70. SL: RM0.45.

ZECON (7028): Price gapped up and breakout above the RM0.76 consolidation level. TP: RM0.855-RM0.905. SL: RM0.725.

COMFORT (2127): Monitor for a breakout above the RM0.945 level after price has formed a BPC formation on the EMA9 level. TP: RM1.00-RM1.10. SL: RM0.88.

Source: M+ Online

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