KLSE Traders Update and Ideas

Daily Market Update - 22 Mar 2016 (RSAWIT, SENDAI, EATECH)

mplus313
Publish date: Tue, 22 Mar 2016, 10:19 AM
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This blog provides market updates and trading ideas that I gather from around the web.

M+ Online Morning Buzz - 22 Mar 16: Dow +21.57 pts (+0.12%) @ 17,623.87 pts. U.S. stockmarkets edged higher overnight as the Dow (+0.1%) pared off its earlier losses to mark its seventh straight winning streak. On the broader market, the S&P500 closed 0.1% higher, driven by gains in consumer and healthcare stocks, while the Nasdaq added 0.3%.

The FBM KLCI started off the week on a firm footing led by recovery in commodities prices, in tandem with the gains in key regional indices. The MACD Histogram has extended another green bar, but the RSI remains 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

Properties: KRETAM, RSAWIT, THPLANT
Construction: EKOVEST, SENDAI

Others: EATECH, LCTH

Potential Momentum Stocks:

RSAWIT (5113): Monitor for a breakout above the RM0.59 level. TP: RM0.635-RM0.675. SL: RM0.555.

SENDAI (5205): Price has breakout above the RM0.72 level. TP: RM0.785-RM0.855. SL: RM0.665.

EATECH (5259): Price gapped up and breakout above the RM1.17 level. TP: RM1.30-RM1.39. SL: RM1.04.

Source: M+ Online

 

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