Thursday 28 Mar 2024
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KUALA LUMPUR, (July 24): theedgemarkets.com highlighted 12 stocks with momentum at Bursa Malaysia's afternoon market close today. Two stocks show positive momentum while 10 stocks show negative momentum.

Stocks with positive momentum are:

IDimension Consolidated Bhd (fundamental: 1.45; valuation: 0.3) up two sen at 13 sen

Rubberex Corp (M) Bhd (fundamental: 1.4; valuation: 2.6) up 0.5 sen at 81.5 sen

Stocks with negative momentum are:

Borneo Aqua Harvest Bhd (fundamental: 0.8; valuation: 0) up 3.5 sen at 98.5 sen

Hunza Properties Bhd (fundamental: 1.7; valuation: 1.5) up two sen at RM1.63

UOA Real Estate Investment Trust (fundamental: 1; valuation: 2.3) up two sen at RM1.63

Yoong Onn Corp Bhd (fundamental: 2.8; valuation: 1.8) up four sen at RM1.14

Leon Fuat Bhd (fundamental: 0.45; valuation: 1.8) up 2.5 sen at 59 sen

Solid Automotive Bhd (fundamental: N/A; valuation: N/A) flat at RM1.79

Kim Hin Industry Bhd (fundamental: 2.5; valuation: 2.6) up five sen at RM2.25

Prolexus Bhd (fundamental: 2.1; valuation: 1.5) up two sen at RM2.65

KESM Industries (fundamental: 2.5; valuation: 2) up 12 sen at RM4.33

Pensonic Holdings Bhd (fundamental: 0.35; valuation: 2.4) up 8.5 sen at 61 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.


(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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