Friday 29 Mar 2024
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KUALA LUMPUR (March 22): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia's afternoon market close today. One stock showed positive momentum while nine displayed negative momentum.

The stock with positive momentum was:

Farlim Group (M) Bhd - up 2.5 sen at 55 sen

Stocks with negative momentum were:

M-Mode Bhd - unchanged at 31.5 sen

CCM Duopharma Biotech Bhd - up one sen at RM2.25

Dataprep Holdings Bhd - up 2.5 sen at 52.5 sen

Naim Indah Corp Bhd - up 0.5 sen at 10.5 sen

MMC Corp Bhd - up two sen at RM2.52

CAB Cakaran Corp Bhd - up one sen at RM1.88

Scope Industries Bhd - up one sen at 26 sen

Minetech Resources Bhd - unchanged at 14 sen

Daya Materials Bhd - up one sen at nine 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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