M+Online Morning Buzz - 21 Oct 15: Dow -13.43 pts (-0.08%) @ 17,217.11 pts. The U.S. stockmarkets ended marginally lower overnight amid a mixed bag of earnings results. Some of the stocks in focus were United Technologies Corp, Travelers Cos Inc. and International Business Machines Corp – the latter fell 5.8% after it registered a 14.0% drop in its 3Q2015 revenue.

Following the weaker Ringgit and drop in crude oil prices, the FBM KLCI fell lower yesterday on the back of profit taking activities. 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: Plantations, Exports-related

Plantations: TDM, RSAWIT
Exports-related: HARTA, KAREX

Others: SIGN, SCABLE, WEIDA, GLOMAC, ARANK, TEXCYCL

Potential Momentum Stocks:

TDM (3948): Follow-through buying interest was seen above RM0.67. TP: RM0.77-RM0.80. SL: RM0.66.

SIGN (7246): Price closed above the EMA 9 level with improved volumes. TP: RM2.54-RM2.66 SL: RM2.31

KAREX (5247): Price broke above its resistance level of RM3.45 with high volumes. TP: RM3.68-RM3.80. SL: RM3.29.

Source: M+ Online

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