Monday 22 Jul 2024
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KUALA LUMPUR (Jan 2): theedgemalaysia.com highlighted three stocks with positive momentum and 11 stocks with negative momentum at Bursa Malaysia's afternoon close on Tuesday.

The stocks with positive momentum were:

  • Sanichi Technology Bhd — unchanged at 2.5 sen
  • Bioalpha Holdings Bhd — up 13.64% or 1.5 sen to 12.5 sen
  • Ablegroup Bhd — up 8.33% or one sen to 13 sen

The stocks with negative momentum were:

  • TMC Life Sciences Bhd — up 4.2% or three sen to 74.5 sen
  • Sunzen Biotech Bhd — up 3.33% or one sen to 31 sen
  • Epicon Bhd — down 8.51% or four sen to 43 sen
  • Kim Loong Resources Bhd — unchanged at RM2.02
  • OSK Holdings Bhd — up 2.42% or three sen to RM1.27
  • Swift Haulage Bhd — up 5.5% or three sen to 57.5 sen
  • Kumpulan Perangsang Selangor Bhd (KPS) — up 4.83% or 3.5 sen to 76 sen
  • Amway (M) Holdings Bhd — up 3.57% or 21 sen to RM6.09
  • MCE Holdings Bhd — up 7.99% or 23 sen to RM3.11
  • Kumpulan H&L High-Tech Bhd — up 3.45% or three sen to 90 sen
  • Salcon Bhd — up 5.26% or 1.5 sen to 30 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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