M+ Online Morning Buzz - 18 Mar 16: Dow +155.73 pts (+0.90%) @ 17,481.49 pts. Follow-through buying momentum were noted after the Fed kept the interest rate unchanged, coupled with a stronger position in WTI crude oil prices above the US$ 40 per barrel (first time in three months). The S&P 500 and Nasdaq increased 0.66% and 0.25% respectively.

The FBM KLCI ended above the 1,700 level for the second time over the past four trading days, with the positive performance on the Dow, the FBM KLCI may extend its upward momentum to the 1,730 level. The MACD Histogram has turned green, while the RSI is hovering above 50. The next resistance will be located around the 1,730 level. Support will be anchored around the 1,630-1,660 levels.

Sector: Oil and Gas, Construction

Oil and Gas: DELEUM, SKPETRO
Construction: TRC, MITRA

Others: BHS, THETA

Potential Momentum Stocks:

TRC (5054): Price could be forming a BPC formation above the RM0.395 level. TP: RM0.43-RM0.46. SL: RM0.38.

THETA (9075): Price experienced a flag formation breakout above RM0.37. TP: RM0.44-RM0.48. SL: RM0.36.

BHS (7241): Price has formed a flag formation breakout above RM0.515. TP: RM0.57-RM0.595. SL: RM0.50.

Source: M+ Online

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