M+ Online Morning Buzz - 11 Mar 16: Dow -5.23 pts (-0.03%) @ 16,995.13 pts. U.S. stockmarkets ended overnight on a mixed note as the Dow closed marginally below the 17,000 psychological level, as earlier gains were fizzled out by the unexpected move by the European Central Bank to cut its interest rates. On the broader market, the S&P500 closed marginally higher, lifted by the final hour buying support, while the Nasdaq dipped 0.3%.

The FBM KLCI ended higher yesterday, owing to the firmer local currency, coupled with stronger crude oil prices. 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, Construction

Plantations: TDM, RSAWIT
Construction: WCT, ZECON

Others: TUNEPRO, RSENA, BIOHLDG, KPSCB

Potential Momentum Stocks:

TDM (2054): Price has formed a flag-formation breakout above the RM0.705 level. TP: RM0.785-RM0.845. SL: RM0.695.

WCT (9679): Monitor for a symmetrical-triangle breakout above the RM1.64 level. TP: RM1.79. SL: RM1.55.

RSENA (5270): Price has breakout above the RM0.40 level. TP: RM0.45. SL: RM0.385.

Source: M+ Online

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