M+ Online Morning Buzz - 21 Mar 16: Dow +120.81 pts (+0.69%) @ 17,602.30 pts. U.S. stockmarkets extended their gains as the Dow added 0.7% on last Friday to register its fifth consecutive weekly winning streak. On the broader market, the S&P500 gained 0.4%, driven gains from laggards in healthcare and financial stocks while the Nasdaq closed 0.4% higher.

The FBM KLCI extended its gains on last Friday as the key index recorded its third straight weekly winning streak. The MACD Indicator has expanded positively above the zero level, but the RSI is overbought. The immediate resistance will be envisaged around the 1,730 level. Support will be pegged around the 1,660-1,700 levels.

Sector: Properties, Construction, Building Materials

Properties: HUAYANG, ECOWLD
Construction: WCT, MRCB, FAJAR
Building Materials: MLGLOBAL, BIG

Others: WASEONG, PENSONI

Potential Momentum Stocks:

HUAYANG (5062): Price has experienced a trendline breakout above the RM1.85 level. TP: RM2.10-RM2.22. SL: RM1.77.

MRCB (1651): Price has breakout above the RM1.22 level. TP: RM1.36-RM1.52. SL: RM1.13.

WASEONG (5142): Monitor for a breakout above the RM0.775 level. TP: RM0.83-RM0.885. SL: RM0.71.

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.