M+ Online Morning Buzz - 31 Mar 16: Dow +83.55 pts (+0.47%) @ 17,716.66 pts. Wall Street edged higher overnight as the Dow (+0.5%) marked its fourth straight winning streak, amid the dovish comments from the U.S. Federal Reserve on its interest rate policy. On the broader market, the S&P500 added 0.4%, while the Nasdaq climbed 0.5%

The FBM KLCI trended higher yesterday, in line with the strong gains in major key regional indices. The MACD Histogram extended another green bar, 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, Properties

Construction: MITRA, MUHIBAH
Properties: UEMS, FARLIM, GUOCO

Others HUPSENG, SEDANIA

Potential Momentum Stocks:

MITRA (9571): Monitor for a breakout above the RM1.27 level. TP: RM1.32-RM1.40. SL: RM1.21.

FARLIM (6041): Monitor for a trendline breakout above the RM0.585 level. TP: RM0.625-RM0.68. SL: RM0.52.

SEDANIA (0178): Price has formed a pennant formation breakout above the RM0.425 level. TP: RM0.515-RM0.585. SL: RM0.425.

Source: M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.