M+ Online Morning Buzz - 30 Mar 16: Dow +97.72 pts (+0.56%) @ 17,633.11 pts. U.S. stockmakrets advanced as the Dow extended its gains to close 0.6% higher after the Federal Reserve has maintained its cautious stance in normalising interest rates due to concern over global economy growth. On the broader market, the S&P500 rose 0.9%, boosted by gains in the Technology sector (+1.6%).

Tracking the positive sentiment in Wall Street overnight, the FBM KLCI staged a strong recovery yesterday. The MACD Histogram has turned green, while the RSI continues to hover above the 50 level. The immediate resistance will be envisaged around the 1,730 level. Support will be pegged around the 1,660-1,700 levels.

Sector: Construction, Building-materials related, Plantations

Construction: FAJAR, MRCB, ECONBHD
Building Materials-related: MLGLOBAL, CHINHIN
Plantations: THPLANT, RSAWIT

Others EATECH, HHGROUP, ESECRAM

Potential Momentum Stocks:

MRCB (1651): Monitor for a breakout above the RM1.22 level. TP: RM1.27-RM1.36. SL: RM1.19.

MLGLOBAL (7595): Price has formed a Breakout-Pullback-Continuation formation above the EMA9 level. TP: RM0.65-RM0.70. SL: RM0.56.

RSAWIT (5113): Monitor for a breakout above the RM0.58 level. TP: RM0.61-RM0.675. SL: RM0.565.

Source: M+ Online

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