M+ Online Morning Buzz - 3 Nov 15: Dow -165.22 pts (+0.94%) @ 17,828.76 pts. The U.S. stockmarkets ended in the positive territory overnight as the Dow turned positive for 2015, while the S&P 500 closed above the 2,100 level – a level last seen since August 2015. Separately, the manufacturing data came in at 54.1 in October, which was within expectation, but slowest increase in more than two years, while construction spending in September rose by 0.6%

Meanwhile, the FBM KLCI extended its losses yesterday albeit the slightly positive market breadth and improved trading volumes. The MACD Histogram, however has extended another red bar, while the RSI crossed below the 30 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, Consumer

FBM ACE: PLABS, JAG, REXIT, CUSCAPI
Consumer: PENSONI, 3A, XINQUAN

Others: ECONBHD, IQGROUP, BTM

Potential Momentum Stocks:

ECONBHD (5253): Monitor for follow-through buying interest above the RM1.05 level. TP: RM1.09-RM1.19. SL: RM1.00.

IQGROUP (5107): Price surged above the EMA9 level. TP: RM2.62-RM2.75. SL: RM2.23.

PLABS (0171): Price stayed above the EMA 9 level with higher volumes. TP: RM0.285-RM0.315. SL: RM0.24

Source: M+ Online

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