Thursday 28 Mar 2024
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KUALA LUMPUR (Mar 6): theedgemarkets.com has highlighted 10 stocks with momentum at  afternoon market close today. Three of the stocks show positive momentum while seven show negative momentum.

Stocks with positive momentum are:

ETI Tech Corp Bhd (fundamental: 0.15; valuation: 0.3) up 1.5 sen at 10 sen

ECS ICT Bhd (fundamental: 2; valuation: 2.4) down seven sen at RM1.53

Jiankun International Bhd (fundamental: 0.6; valuation: 0.6) down 1.5 sen at 35.5 sen

Stocks with negative momentum are:

NetX Holdings Bhd (fundamental: 1.65; valuation: 0.6) up 1.5 sen at 7.5 sen

Cybertowers Bhd (fundamental: 0.6; valuation: 0.3) up 2.5 sen at 10 sen

Ingenuity Consolidated Bhd (fundamental: 0.95; valuation: 0.9) down 0.5 sen at 7.5 sen

Opcom Holdings Bhd (fundamental: 2.2; valuation: 1.8) up 4.5 sen at 73 sen

XOX Bhd (fundamental: 1.2; valuation: 0.3) up 0.5 sen at 85 sen

Mieco Chipboard Bhd (fundamental: 0.65; valuation: 1.2) up four sen at 72.5 sen

Mulpha Land Bhd (fundamental: 1.3; valuation: 2.4) up five sen at 56 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.

(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. Go to www.theedgemarkets.com for details on a company’s financial dashboard.)


 

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