M+ Online Morning Buzz - 22 Oct 15: Dow -48.50 pts (-0.28%) @ 17,168.61 pts. The U.S. stockmarkets extended its losses for the second straight time - weighed down by losses in the health-care sector. Some of the stocks in focus were Yahoo Inc., General Motors Co. and Valeant Pharmaceutical – the latter dropped by as much as 40.0% over alleged improprieties from a short-selling firm Citron Research.

Following some selective bargain hunting activities, the FBM KLCI rebounded yesterday on the back of a positive market breadth. 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: Constructions, Technology

Constructions: ECONBHD, BPURI, TSRCAP 
Technology: UNISEM, INARI

Others: COMFORT, CAREPLS, BRAHIMS

Potential Momentum Stocks:

UNISEM (5005): Price closed above its recent high of RM2.24 with improved volumes. TP: RM2.40-RM2.60. SL: RM2.13.

ECONBHD (5253): Price surged above the EMA 9 level with improved volumes. TP: RM1.00-RM1.10 SL: RM0.88

COMFORT (2127): Price broke above its resistance level of RM0.78 with high volumes. TP: RM0.83-RM0.87. SL: RM0.76.

Source: M+ Online

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