M+ Online Morning Buzz - 23 Oct 15: Dow +320.55 pts (+1.87%) @ 17,489.16 pts. The U.S. stockmarkets finished sharply higher overnight underpinned by better-than-expected earnings results (Mcdonalds and eBay Inc.), economic data (rise in existing-home sales) and dovish sentiments in Europe.

Meanwhile, the FBM KLCI fell into the red yesterday on the back of a mild profit taking activities. The MACD Histogram has extended another red bar and the RSI remains overbought. The immediate resistance will be envisaged around the 1,744 level. Support is pegged around the 1,660-1,700 levels.

Sector Focus: Export-related, Properties

Export-related: UNISEM, MIECO, LIIHEN, INARI
Properties: L&G, MKLAND, IOIPG

Others: FRONTKN, BINTAI, PLABS, PRLEXUS, EDUSPEC

Potential Momentum Stocks:

IKHMAS (5268): Monitor for follow through buying interest above the RM0.66 level. TP: RM0.69-RM0.72. SL: RM0.64.

JHM (0127): Price closed above the EMA 9 level with improved volumes. TP: RM0.475-RM0.50 SL: RM0.375

PWROOT (7237): Follow through buying interest was seen above the RM2.29 level. TP: RM2.51-RM2.75. SL: RM2.23.

Source: M+ Online

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