M+ Online Morning Buzz - 4 Mar 16: Dow +44.58 pts (+0.26%) @ 16,943.90 pts. Wall Street extended its gains for the third straight day as the Dow rebounded off its intraday low to close 0.3% higher. On the broader market, the S&P 500 gained 0.4%, buoyed by the materials and energy sectors as commodity prices stabilised.

The FBM KLCI experienced a mild profit taking yesterday, after two-days of strong run-up. The MACD Histogram has extended another green bar, while the RSI hovers above the 50 level. The immediate resistance will be envisaged around the 1,700-1,730 levels. Support will be pegged around the 1,630-1,660 levels.

Sector: Construction, Properties

Construction: ECONBHD, KIMLUN, SUNCON
Properties: E&O, LBS

Others: PENERGY, CWORKS, TADMAX

Potential Momentum Stocks:

ECONBHD (5253): Price has breakout above the RM1.05 level. TP: RM1.12-RM1.20. SL: RM1.00.

E&O (3417): Price has breakout above the RM1.59 level. TP: RM1.68-RM1.74. SL: RM1.52.

CWORKS (0079): Price has formed a short-term consolidation breakout above the RM0.63 level. TP: RM0.73. SL: RM0.60.

Source: M+ Online

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