Thursday 30 May 2024
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KUALA LUMPUR (Nov 14): theedgemalaysia.com highlighted nine stocks with momentum during Bursa Malaysia’s afternoon close on Tuesday. One stock displayed positive momentum, while the other eight indicated negative momentum.   

The stock with positive momentum was:  

  • Pensonic Holdings Bhd — up 7.5 sen or 10.79% to 77 sen

The stocks with negative momentum were:  

  • Fibon Bhd — up four sen or 8.51% to 51 sen 

  • Mclean Technologies Bhd — up three sen or 18.18% to 19.5 sen 

  • HeiTech Padu Bhd — up half a sen or 5% to RM1.05

  • PBA Holdings Bhd — up nine sen or 7.83% to RM1.24 

  • Kumpulan Perangsang Selangor Bhd — up half a sen or 0.63% to 80 sen 

  • Emico Holdings Bhd — down half a sen or 1.45% to 34 sen 

  • Teo Guan Lee Corp Bhd — up four sen or 3.01% to RM1.37 

  • Rex Industry Bhd — down half a sen or 4.35% to 11 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 ByIsabelle Francis
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