Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 21): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. All six stocks showed negative momentum.

The stocks with negative momentum were:

CCM Duopharma Biotech Bhd - up 5 sen at RM2.29

China Ouhua Winery Holdings Ltd - up 1 sen at 10 sen

DGB Asia Bhd - up 0.5 sen at 14.5 sen

7-Eleven Malaysia Holdings Bhd - up 5 sen at RM1.58

Xian Leng Holdings Bhd - up 3 sen at 66 sen

Zecon Bhd - down 5.5 sen at 74 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.

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