Sunday 25 Feb 2024
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KUALA LUMPUR (April 28): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close on Thursday (April 28).

Three stocks indicated positive momentum while three indicated negative momentum.

The stock with positive momentum were:

AmFIRST REIT — unchanged at 40 sen

Only World Group Holdings Bhd - down half sen (0.8%) at 65.5 sen

Poh Huat Resources Holding Bhd - down one sen (0.7%) at RM1.52

While the three stocks with negative momentum were:

Greenyield Bhd  — down one sen (3.2%) at 30 sen

Integrated Logistics Bhd  — down 1.5 sen (3.1%) at 47.5 sen

United Plantations Bhd  — down 48 sen (3.1%) at RM15.26

The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.

This list is not a buy or sell recommendation. It merely tells you which stocks are seeing higher-than-normal volume and price movements.

The share price may move up or down from this point. But the “+ve” (suggesting a rising price trend on volume) and “-ve” (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell. Note also that momentum generally only persists for a short period of time.

However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum.

For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com

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