Friday 19 Apr 2024
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KUALA LUMPUR (May 12): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday (May 12). Three stocks displayed positive momentum, while four showed negative momentum.

The stocks with positive momentum were:

Dynaciate Group Bhd — up half a sen at 14.5 sen

Jade Marvel Group Bhd — up one sen at 92.5 sen

MNC Wireless Bhd — up one sen at 3.5 sen

The stocks with negative momentum were:

ABM Fujiya Bhd — up three sen at 45 sen

Hengyuan Refining Company Bhd — up 44 sen at RM7.17

Petron Malaysia Refining & Marketing Bhd — up 29 sen at RM6.30

Tambun Indah Land Bhd — up three sen at 96 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

Edited ByChong Jin Hun
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