Tuesday 19 Mar 2024
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KUALA LUMPUR (July 31): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks show positive momentum while five stocks show negative momentum.

Stocks with positive momentum are :

iDimension Consolidated Bhd (fundamental: 1.45; valuation: 0.3) unchanged at 13 sen

Xidelang Holdings Ltd (fundamental: 1.3; valuation: 1.5) up one sen at 19.5 sen

Stocks with negative momentum are:

Notion VTec Bhd (fundamental: 1.15; valuation: 0.9) up 0.5 sen at 48 sen

BP Plastics Holdings Bhd (fundamental: 2.5; valuation: 1.4) up 4.5 sen at RM1

Supermax Corp Bhd (fundamental: 1; valuation: 0.8) up 17 sen at RM2.44

Ge-Shen Corp Bhd (fundamental: 2.2; valuation: 1.1) up 2.5 sen at 98 sen

Federal Furniture (M) Holdings Bhd (fundamental: 1; valuation: 0.5) up 2.5 sen at 50.5 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.

(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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