Thursday 30 May 2024
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KUALA LUMPUR (Dec 12): theedgemalaysia.com highlighted two stocks with positive momentum and four stocks with negative momentum at Bursa Malaysia's afternoon close on Tuesday.

The stocks with positive momentum were:

  • Engtex Group Bhd — up one sen or 1.32% to 76.5 sen;
    Handal Energy Bhd — up half a sen or 3.85% to 13.5 sen.

The stocks with negative momentum were:

  • GFM Services Bhd — down half a sen or 1.82 % to 27 sen;
    HHRG Bhd — unchanged at 39.5 sen;
    PBA Holdings Bhd — up one sen or 0.81% to RM1.24;
    KUB Malaysia Bhd — up half a sen or 0.83% to 61 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 ByLam Jian Wyn
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