M+Online Morning Buzz - 20 Oct 15: Dow +14.57 pts (+0.08%) @ 17,230.54 pts. The U.S. stockmarkets eked out marginal gains led by consumer shares like Netflix Inc. and Expedia Inc.. Energy stocks like Exxon Mobil Corp and Chevron Corp., however were lower on the back of falling crude oil prices amid slowing economy in China.

The FBM KLCI extended its gains for the tenth consecutive sessions and stayed above the EMA9 level led by buying support among selected heavyweights. The MACD Histogram, however has extended another red bar and the RSI is overbought. The immediate resistance will be envisaged around the 1,744 level. Support is pegged around the 1,660-1,700 levels.

Sector Focus: ACE Market, Plantations

ACE Market: MICROLN, ASDION, OMESTI
Plantations: TDM, DUTALND, FGV

Others: SYF, TAMBUN, BDB

Potential Momentum Stocks:

DUTALND (3948): Monitor for a breakout above RM0.48. TP: RM0.52-RM0.56. SL: RM0.46.

SYF (7082): Formed the Breakout-Pullback-Continuation pattern above RM0.455. TP: RM0.52-RM0.575 SL: RM0.455

MICROLN (0126): Monitor for a consolidation breakout above RM1.25. TP: RM1.37-RM1.54. SL: RM1.16.

Source: M+Online

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