M+ Online Morning Buzz - 30 Oct 15: Dow -23.72 pts (-0.13%) @ 17,755.80 pts. Owing to the weaker-than-expected 3Q 2015 GDP numbers, the U.S. stockmarkets succumbed to losses as 5 out of the 10 main sectors on the S&P 500 ended in the negative territory. The energy and health-care sectors, however managed to bucked the market trend – the latter was boosted by possible M&A activities between pharmaceutical giants like Pfizer Inc. and Allergan Plc.

Meanwhile, the FBM KLCI recorded its fourth straight session of losses on the back of a negative market breadth. The MACD Histogram, however has extended another red bar, while the RSI hovers 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: Oil and Gas, Technology

Oil and Gas: BARAKAH, MHB, UZMA
Technology: MICROLN, DUFU, JHM, MMSV

Others: ASIAPLY, TNLOGIS, MUDAJYA, SBCCORP

Potential Momentum Stocks:

MMCCORP (2194): Monitor for follow-through buying interest above the RM2.26 level. TP: RM2.33-RM2.50. SL: RM2.18.

TUNEPRO (5230): Price rebounded off the EMA9 with improved volumes. TP: RM1.50-RM1.60. SL: RM1.37.

YINSON (7293): Price closed above the EMA 9 level. TP: RM3.00-RM3.20. SL: RM2.88

Source: M+ Online

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