M+ Online Morning Buzz - 28 Oct 15: Dow -41.62 pts (-0.24%) @ 17,581.43 pts. The U.S. stockmarkets extended its losses for the second consecutive time amid the mixed corporate earnings results and the slump in oil prices – which sent the energy sector modestly lower. Meanwhile, market participants also turned cautious and wary ahead of the Federal Reserve’s policy statement.

Meanwhile, the FBM KLCI also registered its second straight set of losses yesterday on the back of a negative market breath. The MACD Histogram, however has extended another red bar, while the RSI has crossed below the 70 level. The immediate resistance will be envisaged around the 1,720-1,744 level. Support is pegged around the 1,640-1,660 levels.

Sector Focus: Properties, Export-related

Properties: MUIPROP, IBHD
Export-related: SLP, SOLID

Others: OCNCASH, WELLCAL, EWEIN, CMSB, PADINI

Potential Momentum Stocks:

OCNCASH (0049): Monitor for follow-through buying interest above the RM0.385 level. TP: RM0.40-RM0.435. SL: RM0.355.

SOLID (5242): Monitor for breakout above the RM1.86 level with high volumes. TP: RM2.00-RM2.20 SL: RM1.77

EWEIN (7249): Price continues to close above the EMA 9 level with higher volumes. TP: RM0.90-RM0.95. SL: RM0.75.

Source: M+ Online

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