M+ Online Morning Buzz - 13 Nov 15: Dow -254.15 pts (-1.44%) @ 17,448.07 pts. The U.S. stockmarkets extended its losses after the Federal Reserve policy makers signalled a potential rate hike in December. On the broader market, the S&P 500 fell 1.4% with all ten main sectors declined, while both the energy and basic materials sector fell 2.4% and 2.4% respectively as commodity prices slumped. 

The FBM KLCI closed lower yesterday, owing to the selling pressure in selective plantation and banking heavyweights. The MACD Histogram has extended another red bar, while the RSI continues to hover marginally 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: Gloves-related, Industrial Products

Gloves-related: COMFORT, SUPERMX
Industrial Products: LEONFB, TGUAN, ESCERAM

Others: MINHO, TRC, GOB, 3A

Potential Momentum Stocks:

COMFORT (2127): Monitor for a breakout above the RM0.825 level. TP: RM0.92-RM1.00. SL: RM0.77.

LEONFB (5232): Price breakout above RM0.495 resistance level. TP: RM0.57-RM0.605. SL: RM0.465.

3A (0012): Price formed a breakout-pullback-continuation the RM1.10 level. TP: RM1.26. SL: RM1.10.

Source: M+Online

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