M+ Online Morning Buzz - 4 Nov 15: Dow +89.39 pts (+0.50%) @ 17,918.15 pts. The U.S. stockmarkets extended its gains as the Dow rose 0.5%, while the S&P 500 and Nasdaq Composite increased 0.3% and 0.4%, respectively. On the broader market, energy sector was the best performing sector as it rose by 2.5% - with some of the beneficiaries like Chevron Corp and Exxon Mobil Corp.

Meanwhile, the FBM KLCI ended its losing streak yesterday on the back of a positive market breadth and improvement in trading volumes. The MACD Histogram has turned green, while the RSI has crossed above 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, Oil and Gas

FBM ACE: MMSV, AEMULUS
Consumer: MINHO, 3A, LTKM
Oil and Gas: SKPETRO, ARMADA

Others: D&O, FRONTKN, XINHWA

Potential Momentum Stocks:

D&O (7204): Price broke above the RM 0.39 resistance level with improved volumes. TP: RM0.42-RM0.45. SL: RM0.36.

3A (0012): Price closed above the RM1.10 resistance level. TP: RM1.26-RM1.35. SL: RM1.03.

AEMULUS (0181): Monitor for a follow-through buying interest above RM0.575. TP: RM0.60-RM0.65. SL: RM0.50

Source: M+ Online

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