M+ Online Morning Buzz - 16 Mar 16: Dow +22.40 pts (+0.13%) @ 17,251.53 pts. Wall Street ended mixed overnight as the Dow (+0.1%) extended its gains for the third straight day ahead of the Federal Reserve two-day policy meeting. On the broader market, the S&P500, however, fell 0.2%, on losses in energy stocks while the Nasdaq dipped 0.5%.

The FBM KLCI retreated from the 1,700 psychological level yesterday, mirroring the weakness in the major regional indices. The MACD Histogram has turned red, but 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: Properties, Consumer Products

Properties: YONGTAI, AMPROP
Consumer Products: FPI, EVERGRN

Others: SEACERA, CWORKS

Potential Momentum Stocks:

YONGTAI (7066): Price has breakout above the RM0.785 consolidation level. TP: RM0.83-RM0.90. SL: RM0.755.

FPI (9172): Monitor for a breakout above the RM1.00 level. TP: RM1.08. SL: RM0.98.

SEACERA (7073): Price has breakout above the RM0.97 level. TP: RM1.04-RM1.10. SL: RM0.935.

Source: M+ Online

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