M+ Online Morning Buzz - 1 Apr 16
Dow Jones: 17,685.09 pts (-31.57 pts, -0.18%).
U.S. stockmarkets ended mixed and traded cautiously ahead of the jobs data on Friday. Despite the Dow ended in the negative territory on the final day of March, it has gained 1.49% on a Q.o.Q basis.
FBM KLCI: 1,717.58 pts (-0.24 pts, -0.01%).
As the Dow ended on a mixed note, the FBM KLCI may still trend sideways with a positive directional bias trading as it is hovering above the EMA9 level. Monitor for the short term uptrend move towards the 1,730 level. Meanwhile, support will be located around 1,700 level.
Crude Palm Oil: RM2,725 (-RM20, -0.73%).
CPO prices ended 9.7% higher in 1Q2016 on the back of El Nino, marking the fourth straight winning quarter.
WTI Crude oil: US$38.11 (-0.19, -0.50%)
WTI crude oil price stabilised near the US$38 level as U.S. Dollar retreated over the past four trading days.
Potential Momentum Stocks (01-Apr-2016):
Stock Name: ZECON (7028)
Entry: RM0.795
Target: RM0.85 (6.9%), RM0.90 (13.2%)
Stop: RM0.76 (-4.4%)
Technical: Short term breakout
Stock Name: PENSONI (9997)
Entry: RM0.69
Target: RM0.735 (6.5%), RM0.80 (15.9%)
Stop: RM0.66 (-4.3%)
Technical: Short term resistance breakout
Source: M+ Online
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