M+ Online Morning Buzz - 10 Mar 16: Dow +36.26 pts (+0.21%) @ 17,000.36 pts. Wall Street rebounded overnight as the Dow rose 0.2% to close at the 17,000 psychological level. The strong corporate earnings, coupled with the recovery in crude oil prices as data shows that the decline in gasoline inventories have sent the S&P500 to close 0.5% higher, while the Nasdaq added 0.6%.

The FBM KLCI extended its losses yesterday, in tandem with the general weakness in key regional indices. The MACD Histogram has extended another red 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, Technology

Plantations: KMLOONG, RSAWIT, TDM
Technology: THETA, OMESTI, GHLSYS

Others: SUCCESS, BHS, CENTURY

Potential Momentum Stocks:

KMLOONG (5027): Monitor for a breakout above the RM3.10level. TP: RM3.20-RM3.38. SL: RM3.06.

THETA (9075): Price has breakout above the RM0.37 level. TP: RM0.445-RM0.48. SL: RM0.32.

SUCCESS (7207): Price has breakout above the RM2.30 level. TP: RM2.55-RM2.80. SL: RM2.19.

Source: M+ Online

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