M+ Online Morning Buzz - 1 Mar 16: Dow -123.47 pts (-0.74%) @ 16,516.50 pts. Despite the gains in crude oil prices, Wall Street extended its losses overnight as the Dow fell 0.7% on the late selling pressure. On the broader market, the S&P 500 slipped 0.8% with most of the main sectors declined, led by the healthcare sector (-1.6%).

Following the weakness in key regional indices, the FBM KLCI followed suit to close lower yesterday. The MACD Line has given a SELL signal, while the RSI tripped below the 50 level. The immediate resistance will be envisaged around the 1,700 level. Support will be pegged around the 1,600-1,630 levels.

Sector: Aviation, Plastics-related

Aviation: AIRASIA, AAX
Plastics-related: SKPRES, LCTH

Others: TDM, PAVREIT, BJTOTO, SCH

Potential Momentum Stocks:

AIRASIA (5099): Price has formed a BPC formation above the EMA60 level. TP: RM1.61-RM1.78. SL: RM1.37.

SKPRES (7155): Monitor for a breakout above the RM1.40 level. TP: RM1.58-RM1.70. SL: RM1.27.

SCH (0161): Monitor for a breakout above the RM0.23 level.  TP: RM0.26-RM0.285. SL: RM0.205.

Source: M+ Online

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