M+Online Morning Buzz 13 Oct 15: Dow +47.37 pts (+0.28%) @ 17,131.86 pts. Despite the marginal gains, the U.S. stockmarkets managed to end in the positive territory overnight, led by gains in consumer discretionary and utilities sectors, while most of the European equities fell into the negative territory, dragged lower by losses in commodities and mining shares.

Meanwhile, the FBM KLCI ended in the positive territory yesterday on the back of a slightly positive market breath. The MACD Histogram has extended another green bar, but the RSI has just crossed above the 70 level. The immediate resistance will be envisaged around the 1,700-1,740 levels. Support is pegged around the 1,600-1,660 levels.

Sector Focus: Plastic-related, Technology-related, Consumer

Plastic-related: SKPRES, GESHEN
Technology-related: PRIVA, D&O, JHM
Consumer: OLDTOWN, TUNEPRO

Others: CENTURY, SYCAL, HOVID, SILKHLD

Potential Momentum Stocks:

SYCAL (9717): Follow-through buying interest was seen above RM0.40. TP: RM0.45-RM0.50. SL: RM0.39.

HOVID (7213): Monitor for a breakout above the RM0.475 level. TP: RM0.50-RM0.52. SL: RM0.455.

SILKHLD (5078): Price surged above the immediate resistance level of RM0.525 with high volumes. TP: RM0.60-RM0.65. SL: RM0.47.

Source: M+Online

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