Tuesday 16 Jul 2024
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KUALA LUMPUR (June 16): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. All stocks displayed negative momentum.

The stocks with negative momentum were:

CWG Holdings Bhd — unchanged at 41 sen

Hwa Tai Industries Bhd — up 8.5 sen at 60 sen

Kobay Technology Bhd — up 17 sen at RM2.91

MPHB Capital Bhd — up one sen at RM1.64

REX Industry Bhd — down five sen at 26 sen

SEAL Incorporated Bhd — up one sen at 38 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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