M+ Online Morning Buzz - 25 Mar 16: Dow +13.14 pts (+0.08%) @ 17,515.73 pts. After trending downwards around 100 pts on the intraday position, the Dow reversed and turned higher as WTI crude oil rebounded off the US$38 mark, coupled with mild strengthening in US Dollar. However, on the W.o.W basis, the Dow has fallen 86.57 pts, snapping the five consecutive weekly gains led by energy related stocks.

The FBM KLCI extended its pullback phase towards the EMA9 yesterday. The MACD Histogram has turned red, and the RSI tripped below the 70 level. The immediate resistance will be pegged around 1,730. Support will be located around the 1,660-1,700 levels.

Sector: Properties, Technology, Logistic

Properties: MULPHA, ECOWLD
Technology: CWORKS, KEYASIC, GHLSYS
Logistic: CENTURY, TNLOGIS

Others: IKHMAS

Potential Momentum Stocks:

MULPHA (3905): trended sideways between the RM0.29-RM0.30 levels over the past two weeks. Monitor for a breakout above RM0.30. TP: RM0.34-RM0.36. SL: RM0.285.

HWATAI (8478): Price rebounded off the EMA9 with higher-than-average volumes. TP: RM0.51 –RM0.54. SL: RM0.40.

CENTURY (7117): Price could be forming a BPC formation above RM0.90. TP: RM0.96-RM1.00. SL: RM0.89.

Source: M+ Online

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