Thursday 28 Mar 2024
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KUALA LUMPUR (July 28): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed one with positive momentum and five with negative momentum.

The stock with positive momentum was:

Elsoft Research Bhd – up 17 sen at RM2.76

Stocks with negative momentum were:

Aemulus Holdings Bhd – up three sen at 69 sen

George Kent (M) Bhd – up 13 sen at RM4.35

Hengyuan Refining Co Bhd – up 40 sen at RM6.76

Matrix Concepts Holdings Bhd – up two sen at RM2.72

Mexter Technology Bhd – up 1.5 sen at 30.5 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.

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