M+ Online Morning Buzz - 29 Oct 15: Dow +198.09 pts (+1.13%) @ 17,779.52 pts. Following the unchanged interest rate stance, the U.S. stockmarkets rebounded overnight as the banking sector rallied. Meanwhile, 26 out of the 30 constituents on the Dow ended in the positive territory, while the Nasdaq rose 1.3%. Separately, the Federal Reserve has stated that the rate increase over its next meeting in December is still very much on the cards, hinging on the recovery in economic activities.

Meanwhile, the FBM KLCI extended its losses for the third straight session on the back of a positive market breadth. The MACD Histogram, however has extended another red bar, while the RSI has crossed below the 50 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

Plastic-related: ASIAPLY, HIL, SLP
Technology: K1, ELSOFT, JHM, MMSV

Others: HHGROUP, MUIPROP, MUDAJYA

Potential Momentum Stocks:

ASIAPLY (0105): Price breakout above the RM0.69 level with improved volumes. TP: RM0.785-RM0.80. SL: RM0.675.

JHM (0127): Price rebounded off the EMA9 with higher-than-average volumes. TP: RM0.52-RM0.56. SL: RM0.44.

K1 (0111): Price experienced a consolidation breakout above RM0.27. TP: RM0.32-RM0.35. SL: RM0.26

Source: M+Online

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