M+ Online Morning Buzz - 16 Nov 15: Dow-202.83 pts (-1.16%) @ 17,245.24 pts. The U.S. stockmarkets logged one of their worst weekly session in months - dragged lower by losses in consumer discretionary and technology stocks. Some of the affected companies were Cisco Systems Inc., Fossil Group Inc. and J.C. Penney Co.

Meanwhile, the FBM KLCI also closed lower for the week as the key index was weighed down by losses in O&G and financial heavyweights. The weekly MACD Histogram has turned red, while the weekly RSI hovers above the 30 level. The immediate resistance will be envisaged around the 1,690-1,700 levels. Support is pegged around the 1,600-1,630 levels.

Sector Focus: Technology, Industrial Products, Consumer

Technology: INSAS, NOTION
Industrial Products: SIGGAS, LEONFB
Consumer: YEELEE, BRAHIMS

Others: CENSOF, PBA, REDTONE, DENKO

Potential Momentum Stocks:

INSAS (3379): Monitor for follow-through buying interest above the RM0.865 level. TP: RM0.95-RM1.00. SL: RM0.80.

SIGGAS (5181): Price closed above the EMA 9 level. TP: RM0.61-RM0.685. SL: RM0.49.

DENKO (8176): Monitor for a follow-through buying interest above the RM0.355 level. TP: RM0.385-RM0.44. SL: RM0.32.

Source: M+Online

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