M+ Online Morning Buzz - 8 Mar 16: Dow +67.18 pts (+0.40%) @ 17,073.95 pts. Wall Street extended its gains for the fifth straight session as the Dow rose 0.4% amid the speculation that the China’s stimulus measures will boost the demand for commodities. The S&P500 gained 0.1% on a choppy trading session, but the selling pressure in technology and biotech stocks sent the Nasdaq to close 0.2% lower.

The FBM KLCI started off the week higher, tracking the positive close in the overnight Wall Street. The MACD Histogram has extended another green bar, while the RSI continues to hover above the 50 level. The immediate resistance will be envisaged around the 1,700 level. Support will be pegged around the 1,630-1,660 levels.

Sector: Plantations, Construction

Plantations: TDM, TSH
Construction: FAJAR, GAMUDA

Others: AWC, PAVREIT, PMBTECH, BIOHLDG, FPI

Potential Momentum Stocks:

TDM (2054): Monitor for a breakout above the RM0.715 level. TP: RM0.735-RM0.785. SL: RM0.68.

FAJAR (7047): Price continues to be supported above the EMA9 level. TP: RM0.585-RM0.62. SL: RM0.53.

AWC (7579): Price has formed a flag-formation breakout above the RM0.45 level. TP: RM0.475-RM0.495. SL: RM0.425.

Source: M+ Online

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