M+ Online Morning Buzz - 19 Nov 15: Dow +247.66 pts (+1.42%) @ 17,737.16 pts. Wall Street rallied overnight with the Dow closing 1.4% higher, as the Federal Reserve officials are prepared and in favour of an interest rate hike in December. On the broader market, the S&P 500 added 1.6%, while the Nasdaq jumped 1.8% to close above the 5,000 psychological level. 

The FBM KLCI closed lower yesterday, owing to profit taking amongst selective banking heavyweights. The MACD Histogram has extended another green bar, while the RSI hovers above the 30 level. The immediate resistance will be envisaged around the 1,700 level. Support is pegged around the 1,600-1,630 levels.

Sector Focus: FBM ACE, Consumer Products, Furniture-related

FBM ACE: EDUSPEC, MIKROMB
Consumer Products: HUPSENG, IQGROUP, CAB
Furniture-related: POHUAT, SYF

Others: DSONIC, PENTA 

Potential Momentum Stocks:

EDUSPEC (0107): Monitor for a breakout above the RM0.34 level. TP: RM0.39-RM0.415. SL: RM0.315.

HUPSENG (5024): Price formed a T+4 formation breakout above the RM1.43 all-time high level. TP: RM1.60-RM1.70. SL: RM1.38.

DSONIC (5216): Price breakout above the RM1.59 level. TP: RM1.74-RM2.00. SL: RM1.48.

Source: M+ Online

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