Tuesday 28 May 2024
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KUALA LUMPUR (Sept 27): theedgemalaysia.com highlighted two stocks with positive momentum and seven stocks with negative momentum during Bursa Malaysia’s afternoon session on Wednesday.

The stocks with positive momentum were:

  • Ocean Vantage Holdings Bhd — up three sen at 26.5 sen
  • Sealink International Bhd — up two sen at 19 sen

The stocks with negative momentum were:

  • Catcha Digital Bhd — up one sen at 56.5 sen
  • Spring Art Holdings Bhd — unchanged at 17 sen
  • Swift Haulage Bhd — up 3.5 sen at 57 sen
  • Puncak Niaga Holdings Bhd — up two sen at 41.5 sen
  • United U-Li Corporation Bhd — up three sen at RM1.54
  • SWS Capital Bhd — up one sen at 35 sen
  • Formosa Prosonic Industries Bhd — up two sen at RM2.79

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 ByIsabelle Francis
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