Friday 21 Jun 2024
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KUALA LUMPUR (March 21): theedgemalaysia.com highlighted two stocks with positive momentum, and 10 stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday.

The stocks with positive momentum were:

Guan Chong Bhd — up 18 sen or 8.7% at RM2.25

SCGM Bhd — up four sen or 6.6% at 64.5%

The stocks with negative momentum were:

Southern Score Builders Bhd — up two sen or 9.1% at 24 sen

NCT Alliance Bhd — up one sen or 2.6% at 40 sen

Tex Cycle Technology (M) Bhd — up 3.5 sen or 3.8% at 95 sen

Rexit Bhd — up three sen or 2.6% at RM1.18

Eduspec Holdings Bhd — up one sen or 7.4% at 14.5 sen

Vstecs Bhd — up 15 sen or 6.8% at RM2.35

SkyWorld Development Bhd — up four sen or 6.7% 63.5 sen

Khee San Bhd — unchanged at 16 .5 sen

YSP Southeast Asia Holding Bhd — up eight sen or 3.4% at RM2.42

LBI Capital Bhd — up seven sen or 13% at 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 BySurin Murugiah
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