Monday 22 Jul 2024
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KUALA LUMPUR (Jan 5): theedgemalaysia.com highlighted two stocks with positive momentum and sixteen stocks with negative momentum at Bursa Malaysia's afternoon close on Friday.

The stocks with positive momentum were:

  • Minetech Resources Bhd — up two sen or 9.52% to 23 sen

  • Nova MSC Bhd  — up half a sen or 4.35% to 12 sen

The stocks with negative momentum were:

  • Benalec Holdings Bhd — unchanged at 15 sen

  • Berjaya Land Bhd — up 1.5 sen or 5.08% to 31 sen

  • Bursa Malaysia Bhd — up 16 sen or 2.25% to RM 7.26

  • Excel Force MSC Bhd — up two sen or 4.94% 42.5 sen

  • FGV Holdings Bhd — up one sen or 0.72% to RM1.40

  • Ibraco Bhd — up 13.5 sen or 14.59% to RM1.06

  • IFCA MSC Bhd — up half a sen or 1.69% to 30 sen

  • JKG Land Bhd — up 1.5 sen or 14.29% to 12 sen

  • LFE Corp Bhd — down half a sen or 2.70% to 18 sen

  • Milux Corp Bhd — down 3.5 sen or 5.65% to 58.5 sen

  • MN Holdings Bhd — down three sen or 5.26% to 54 sen

  • PWF Corp Bhd — up 3.5 sen or 4.70% to 78 sen

  • Rex Industry Bhd — up one sen or 8% to 13.5 sen

  • Samchem Holdings Bhd — up two sen or 3.15% 65.5 sen

  • Sarawak Cable Bhd — up six sen or 15.58% to 44.5 sen

  • Sern Kou Resources Bhd — up half a sen or 0.66% to 76.5 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 & Surin Murugiah
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