M+ Online Morning Buzz - 17 Mar 16: Dow +74.23 pts (+0.43%) @ 17,325.76 pts. Wall Street cheered on the news that the U.S. Federal Reserve left interest rate unchanged and signals that further rate hikes will be slower than expected. The Dow rose 0.4%, while the S&P500 closed 0.6% higher as the latter was anchored by gains in the materials (+1.7%) and energy sector (+1.6%), after commodity prices rallied.

The FBM KLCI ended marginally higher yesterday, owing to the strong buying support amongst selective banking heavyweights. The MACD Histogram has extended another red bar, 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, Construction

Properties: IOIPG, MATRIX, IBHD
Construction: KERJAYA, ECONBHD

Others: BIG, CBIP

Potential Momentum Stocks:

IOIPG (5249): Price has breakout above the RM2.16 level. TP: RM2.35-RM2.66. SL: RM2.12.

KERJAYA (7161): Monitor for a breakout above the RM1.70 level. TP: RM1.84-RM2.00. SL: RM1.64.

BIG (7005): Monitor for a trendline breakout above the RM0.71 level. TP: RM0.75-RM0.795. SL: RM0.66.

Source: M+ Online

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