Tuesday 23 Apr 2024
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KUALA LUMPUR (Oct 23): theedgemalaysia.com highlighted one stock with positive momentum and four stocks with negative momentum during Bursa Malaysia's noon break on Monday.

The stock with positive momentum was:

  • EITA Resources Bhd — up 1.5 sen or 2% to 76.5 sen

The stocks with negative momentum were:

  • Systech Bhd — up three sen or 5.13% to 61.5 sen
  • Aldrich Resources Bhd — unchanged at 4.5 sen
  • PDZ Holdings Bhd — unchanged at 3.5 sen
  • FSBM Holdings Bhd — up three sen or 10.71% to 31 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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