Friday 12 Apr 2024
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KUALA LUMPUR (April 20): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close on Wednesday (April 20). Two stocks displayed positive momentum, while four showed negative momentum.

Stocks with positive momentum were:

Mega First Corp Bhd – up nine sen at RM3.79

Mycron Steel Bhd – unchanged at 72.5 sen

Stocks with negative momentum were:

Choo Bee Metal Industries Bhd – up two sen at RM2.04

Engtex Group Bhd – up three sen at 73.5 sen

Malaysia Steel Works (KL) Bhd – up 1.5 sen at 41 sen

South Malaysia Industries Bhd – up one sen at 33.5 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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