Sunday 21 Jul 2024
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KUALA LUMPUR (May 10):  theedgemalaysia.com highlighted two stocks with positive momentum and eight stocks with negative momentum at Bursa Malaysia’s afternoon close on Monday.  

The stocks with positive momentum were:

    Kobay Technology Bhd (KL:KOBAY) — up three sen or 1.25% to RM2.43;
    Astral Asia Bhd Bhd (KL:AASIA) — unchanged at 12 sen.

The stocks with negative momentum were:

    Rexit Bhd (KL:REXIT) — unchanged at 28 sen;
    Kuchai Development Bhd (KL:KUCHAI) — up 12 sen or 5.61% to RM2.26;
    Selangor Dredging Bhd (KL:SDRED) — up 1.5 sen or 2.38% to 64.5 sen;
    Kluang Rubber Co (M) Bhd (KL:KLUANG) — up 66 sen or 12.43% to RM5.97;
    Sungei Bagan Rubber Co (M) Bhd (KL:SBAGAN) — up one sen or 17.86% to RM6.60;
    SKB Shutters Corporation Bhd (KL:SKBSHUT) — up one sen or 1.64% to 62 sen;
    AHB Holdings Bhd (KL:AHB) — unchanged at 16.5 sen;
    SHH Resources Holdings Bhd (KL:SHH) — up five sen or 3.97% at RM1.31.

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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