Friday 14 Jun 2024
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KUALA LUMPUR (Oct 20): theedgemalaysia.com highlighted seven stocks with momentum during Bursa Malaysia’s afternoon close on Friday. Two stocks displayed positive momentum, while the other five indicated negative momentum.

The stocks with positive momentum were:

  • Aldrich Resources Bhd — up one sen at four sen
  • PDZ Holdings Bhd — up one sen at four sen

The stocks with negative momentum were:

  • Asdion Bhd — up 2.5 sen at 10.5 sen
  • Bina Puri Holdings Bhd — down half a sen at 6.5 sen
  • Meta Bright Group Bhd — unchanged at 26 sen
  • Oriental Food Industries Holdings Bhd — up nine sen at RM1.37
  • PUC Bhd — up one sen at 5.5 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

Edited BySurin Murugiah
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