M+Online Morning Buzz - 19 Oct 15: Dow +74.22 pts (+0.43%) @ 17,215.97 pts. The U.S. stockmarkets ended last Friday’s choppy session on a positive note as the S&P 500 closed at its highest level since August, while both Nasdaq and the Dow extended their weekly gains. Separately, the CBOE Volatility Index continued to drop lower as the overall volatility normalises.

Meanwhile, the FBM KLCI registered its third straight set of weekly gains on the back of a well-supported buying interest amongst financial heavyweights and selective undervalued GLC companies. The MACD Histogram has extended another red bar, but the RSI is hovering above 70 (overbought). 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: ACE Market, Logistic-related, Oil and Gas

ACE Market: EDUSPEC, REXIT, OCNCASH, SMRT
Logistic-related: TNLOGIS, GDEX
Oil and Gas: ARMADA, DELEUM

Others: TEKSENG, WILLOW

Potential Momentum Stocks:

SMRT (0117): Price breached above the RM0.31 level with high volumes. TP: RM0.40-RM0.47. SL: RM0.29.

GDEX (0078): Price broke above the RM1.17 resistance level with high volumes. TP: RM1.45-RM1.55. SL: RM1.15.

OCNCASH (0049): Follow-through buying interest was seen above the RM0.365 level. TP: RM0.40-RM0.435. SL: RM0.35.

Source: M+Online

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