Sunday 21 Jul 2024
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KUALA LUMPUR (June 11): theedgemalaysia.com highlighted 17 stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday. Three stocks showed positive momentum, while 14 stocks showed negative momentum.

The stocks with positive momentum were:

  • Titijaya Land Bhd (KL:TITIJYA) — up 2.5 sen or 8.93% at 30.5 sen
  • Jaycorp Bhd (KL:JAYCORP) — up one sen or 1.34% at 75.5 sen
  • Elsoft Research Bhd (KL:ELSOFT) — up 3.5 sen or 6.14% at 60.5 sen

The stocks with negative momentum were:

  • UCrest Bhd (KL:UCREST) — up 1.5 sen or 12.5% at 13.5 sen
  • JAG Bhd (KL:JAG) — down half a sen or 1.25% at 39.5 sen
  • DPI Holdings Bhd (KL:DPIH) — up one sen or 5.13% at 20.5 sen
  • Southern Cable Group Bhd (KL:SCGBHD) — up 7.5 sen or 8.33% at 97.5 sen
  • Volcano Bhd (KL:VOLCANO) — up two sen or 2.84% at 72.5 sen
  • Haily Group Bhd (KL:HAILY) — up seven sen or 12.39% at 63.5 sen
  • Hup Seng Industries Bhd (KL:HUPSENG) — up 24 sen or 23.76% at RM1.25
  • JCY International Bhd (KL:JCY) — up seven sen or 10.53% at 73.5 sen
  • Censof Holdings Bhd (KL:CENSOF) — up 3.5 sen or 10.94% at 35.5 sen
  • Datasonic Group Bhd (KL:DSONIC) — up half a sen or 0.89% at 56.5 sen
  • Sunway Construction Group Bhd (KL:SUNCON) — up 46 sen or 13.9% at RM3.77
  • Minho (M) Bhd (KL:MINHO) — up one sen or 3.17% at 32.5 sen
  • Salcon Bhd (KL:SALCON) — up two sen or 5.13% at 41 sen
  • Gadang Holdings Bhd (KL:GADANG) — unchanged at 48.5 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 ByIsabelle Francis
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