Friday 21 Jun 2024
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KUALA LUMPUR (Jan 8):  theedgemalaysia.com highlighted two stocks with positive momentum and 20 stocks with negative momentum at Bursa Malaysia’s afternoon close on Monday.

The stocks with positive momentum were:

  • Managepay Systems Bhd  — up 2.5 sen or 20.83% to 14.5 sen;

  • Rimbunan Sawit Bhd — up one sen or 6.45% to 16.5 sen.

The stocks with negative momentum were:

  • Able Global Bhd — down one sen or 0.64% to RM1.56;

  • Ancom Logistics Bhd — up one sen or 7.69% to 14 sen; 

  • Cabnet Holdings Bhd — up 3.5 sen or 13.21% to 30 sen; 

  • D’Nonce Technology Bhd — up 2.5 sen or 13.89% to 20.5 sen;

  • Eversafe Rubber Bhd — unchanged at 23 sen;

  • Fraser & Neave Holdings Bhd — unchanged at RM28.34;

  • Gadang Holdings Bhd — up half a sen or 1.41% to 36 sen;

  • Genting Bhd — up 16 sen or 3.39% to RM4.88;

  • Inta Bina Group Bhd — up two sen or 7.41% to 29 sen;

  • Iskandar Waterfront City Bhd — up 12 sen or 13.33% to RM1.02;

  • Kenanga Investment Bank Bhd — up 2.5 sen or 2.62% to 98 sen;

  • Kia Lim Bhd — up two sen or 3.96% to 52.5 sen;

  • KIP REIT — unchanged at 90 sen;

  • Kumpulan Perangsang Selangor Bhd — up three sen or 3.57% to 87 sen;

  • MNRB Holdings Bhd — up eight sen or 6.35% to RM1.34;

  • MUI Properties Bhd — unchanged at 20 sen;

  • Nova MSC Bhd — down half a sen or 4.17% to 11.5 sen;

  • PA Resources Bhd — up half a sen or 1.79% to 28.5 sen;

  • YBS International Bhd — up two sen or 2.86 % 72 sen;

  • YLI Holdings Bhd — down half a sen or 1.19% to 41.5 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
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