Thursday 20 Jun 2024
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KUALA LUMPUR (April 23): theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon close on Tuesday. Two stocks showed positive momentum while five indicated negative momentum.

The stocks with positive momentum were:

  • Jasa Kita Bhd — up one sen or 7.14% at 15 sen
  • MMS Ventures Bhd — up 1.5 sen or 2.73% at 56.5 sen

The stocks with negative momentum were:

  • Ancom Logistics Bhd — down 4.5 sen or 20% at 18 sen
  • Aneka Jaringan Holdings Bhd — up half a sen or 1.92% at 26.5 sen
  • Censof Holdings Bhd — up two sen or 7.69% at 28 sen
  • Kimlun Corp Bhd — up three sen or 2.80% at RM1.10
  • MClean Technologies Bhd — up 2.5 sen or 9.62% at 28.5 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 ByTan Choe Choe
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