M+ Online Morning Buzz - 24 Mar 16: Dow -79.98 pts (-0.45%) @ 17,502.59 pts. U.S stockmarkets retreated for the second straight session as both the Dow and S&P 500 fell 0.5% and 0.6% respectively amidst the renewed weakness in crude oil prices. The Nasdaq, meanwhile, sank 1.1%, snapping a five consecutive winning streak.

The FBM KLCI staged a mild pullback yesterday on profit taking 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: Construction, Technology

Construction: PRTASCO, IKHMAS, SUNWAY
Technology: D&O, UNISEM

Others: OKA, AIRASIA, CENBOND

Potential Momentum Stocks:

IKHMAS (5268): Price has formed a consolidation breakout above the RM0.675 level with high volumes. TP: RM0.725-RM0.82. SL: RM0.65.

UNISEM (5005): Monitor for a symmetrical triangle breakout above the RM2.29 level. TP: RM02.36 –RM2.52. SL: RM2.18.

AIRASIA (5099): Price has formed a flag-formation breakout above the RM1.79 level. TP: RM2.02-RM2.23. SL: RM1.77.

Source: M+ Online

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