Thursday 28 Mar 2024
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KUALA LUMPUR (June 15): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. One stock showed positive momentum and six stocks showed negative momentum.

The stock with positive momentum was:

Elk-Desa Resources Bhd (fundamental: 2.3; valuation: 2.6) up one sen at RM1.26

The stocks with negative momentum are:

Mikro MSC Bhd (fundamental: 2.55; valuation: 1.1) up two sen at 76 sen

Country View Bhd (fundamental: 1.3; valuation: 3) flat at RM1.66

Luxchem Corp Bhd (fundamental: 2.1; valuation: 2.1) up 10 sen at RM1.96

Sunway Bhd (fundamental: 1; valuation: 1.4) up 26 sen at RM3.99

Ta Win Holdings Bhd (fundamental: 0.9; valuation: 0.3) up one sen at RM1.19

Atta Global Group Bhd (fundamental: 2.3; valuation: 2) up three sen at RM1.46

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.

 

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