M+ Online Morning Buzz - 3 Mar 16: Dow +34.24 pts (+0.20%) @ 16,899.32 pts. U.S. stockmakets chalked in marginal gains as the Dow rose 0.2% on stronger-than-expected private jobs data. On the broader market, the S&P 500 added 0.4%, recouping all its intraday losses, in tandem with the late gains in crude oil prices, while the Nasdaq climbed 0.3%.

The FBM KLCI closed sharply higher for the second straight session yesterday, owing to the stronger buying interest from foreign funds. The MACD Histogram has extended another green bar, but the RSI is overbought. The immediate resistance will be envisaged around the 1,700 level. Support will be pegged around the 1,630-1,660 levels.

Sector: Oil & Gas, Construction

Oil & Gas: SKPETRO, EATECH, DIALOG
Construction: KIMLUN, JAKS

Others: SCABLE, TUNEPRO, UCHITEC

Potential Momentum Stocks:

SKPETRO (5218): Price has breakout above the RM2.04 level. TP: RM2.29-RM2.47. SL: RM1.88.

JAKS (4723): Price has breakout above the RM1.16 level. TP: RM1.28-RM1.40. SL: RM1.08.

UCHITEC (7100): Monitor for a breakout above the RM1.69 level. TP: RM1.79-RM2.00. SL: RM1.64.

Source: M+ Online

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