Monday 22 Jul 2024
By
main news image

KUALA LUMPUR (Nov 15): theedgemalaysia.com highlighted seven stocks with momentum during Bursa Malaysia’s afternoon close on Wednesday. One stock displayed positive momentum, while the other six indicated negative momentum.   

The stock with positive momentum was:  

Brite-Tech Bhd — unchanged at 37.5 sen.  

The stocks with negative momentum were:  

Sunzen Biotech Bhd — up 0.5 sen or 1.96% to 26 sen;
Ibraco Bhd — up 23 sen or 25% to RM1.15; 
Rimbunan Sawit Bhd — unchanged at 15 sen; 
YLI Holdings Bhd — up 2.5 sen or 5.88% to 45 sen; 
Salcon Bhd — up 0.1 sen or 2.94% to 35 sen; 
Fromosa Prosonic Industries — up 0.3 sen or 1.02% to RM2.98. 

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
      Print
      Text Size
      Share