M+ Online Morning Buzz - 23 Mar 16: Dow -41.30 pts (-0.23%) @ 17,582.57 pts. Wall Street retreated and the Dow snapped a seven consecutive winning streak to close 0.2% lower, following the terror attack in Brussels. On the broader market, the S&P500 fell 0.1%, dragged down by the weakness in airline and travel stocks, but the Nasdaq rose 0.3%.

The FBM KLCI advanced for the fifth straight session yesterday, owing to the strong buying support from foreign funds in selective index heavyweights. 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: MATRIX, ECOWLD, YONGTAI
Construction: ZECON, MITRA
Technology: CWORKS, JHM, MIKROMB

Others: MLGLOBAL, MHB

Potential Momentum Stocks:

ECOWLD (8206): Monitor for a breakout above the RM1.50 level. TP: RM1.67-RM1.73. SL: RM1.42.

ZECON (7028): Price has formed a B-P-C formation above the EMA9 level. TP: RM0.855-RM1.00. SL: RM0.78.

MLGLOBAL (7595): Price has breakout above the RM0.53 level. TP: RM0.65-RM0.70. SL: RM0.50.

Source: M+ Online

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