Thursday 20 Jun 2024
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KUALA LUMPUR (Feb 13): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon close today. Two stocks displayed positive momentum while five showed negative momentum.

Stocks with positive momentum were:

Carlsberg Brewery Malaysia Bhd - up RM3.62 at RM37.02 

Kim Teck Cheong Consolidated Bhd - up 1.5 sen at 22 sen

Stocks with negative momentum were:

Luxchem Corp Bhd - up three sen at 57 sen

MCLean Technologies Bhd - up 1.5 sen at 34.5 sen 

Minetech Resources Bhd - up 0.5 sen at 12.5 sen 

mTouche Technology Bhd -  up 0.5 sen at 18.5 sen

Techfast Holdings Bhd -  up one sen at 55 sen 

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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