Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 14): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close today. Four stocks displayed positive momentum while two showed negative momentum.

Stocks with positive momentum were:

Kumpulan Powernet Bhd - up 17 sen at RM2.94 

Minetech Resources Bhd - unchanged at 12.5 sen 

Omesti Bhd- up 3.5 sen at 58.5 sen 

YGL Convergence Bhd - up 1.5 sen at 16 sen 

Stocks with negative momentum were:

Carlsberg Brewery Malaysia Bhd - up 96 sen at RM36.62

Malayan Cement Bhd - up 17 sen at RM3.62

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.

For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com

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