M+ Online Morning Buzz - 2 Nov 15: Dow -92.26 pts (-0.52%) @ 17,663.54 pts. The U.S. stockmarkets posted one of their best monthly gains since October 2011 as the S&P 500 rose 8.3%, while the Dow and Nasdaq climbed 8.5% and 9.4%, respectively. Separately, the CBOE Volatility Index stabilised to 15 (translating a 38.0% M.o.M fall) in October – a level well below its long-term average of 20.

Meanwhile, the FBM KLCI registered its second set of weekly losses mostly attributable to selloffs amongst telco and financial heavyweights. 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 1,700-1,720 levels. Support is pegged around the 1,640-1,660 levels.

Sector Focus: FBM ACE, Packaging, Consumer

FBM ACE: MMSV, JHM, REXIT, KRONO, HHGROUP
Packaging: LCTH, BOXPAK
Consumer: CHEEWAH, CIHLDG

Others: KOMARK

Potential Momentum Stocks:

JHM (0127): Monitor for follow-through buying interest above the RM0.455 level. TP: RM0.49-RM0.57. SL: RM0.425.

REXIT (0106): Price surged above the EMA9 with improved volumes. TP: RM0.53-RM0.60. SL: RM0.46.

KRONO (0176): Monitor for breakout above the RM0.22 level. TP: RM0.25-RM0.30. SL: RM0.18

Source: M+ Online

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