M+ Online Morning Buzz - 26 Oct 15: Dow +157.54 pts (+0.90%) @ 17,646.70 pts. The U.S. stockmarkets extended its weekly gains for the fourth consecutive time on the back of a better-than-expected earnings results from technology heavyweights and surprise interest rate cut from the People’s Bank of China. Some of the stocks in focus include Amazon.com, Microsoft Corp. and Alphabet Inc.

Meanwhile, the FBM KLCI recorded its first weekly losses for the month after a strong one-day profit taking activities wiped off most of the earlier gains. The MACD Histogram, however 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, Oil and Gas

Export-related: KAWAN, HARTA, EVERGRN, INARI
Oil and Gas: COASTAL, DIALOG, SUMATEC

Others: BRIGHT, EDUSPEC, SHH, SUNWAY, OWG, MITRA, IDEAL

Potential Momentum Stocks:

EATECH (5259): Monitor for follow through buying interest above the RM1.23 level. TP: RM1.28-RM1.40. SL: RM1.13.

GKENT (3204): Price remained well supported above the EMA 9 level with high volumes. TP: RM1.80-RM1.90 SL: RM1.64

SAUDEE (5157): Monitor for breakout above the RM0.50 level. TP: RM0.55-RM0.60. SL: RM0.475.

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.