This article first appeared in The Edge Financial Daily on July 29, 2019

G3 Global Bhd (-ve)
TRADING of shares in G3 Global Bhd (fundamental: 1.2/3, valuation: 0/3) triggered our Stocks with Momentum algorithm last Friday for the fourth time this year.

The counter closed the day up 39 sen or 15.54% at RM2.90, with 1.95 million shares traded, higher than its 200-day average volume of 183,910 shares.

G3 is principally involved in manufacturing, design, distribution and retail of apparel.

On June 25, PublicInvest Research said G3 is potentially picking up its prior uptrend, based on its positive technical outlook.

The research house said improving relative strength index and moving average convergence divergence indicators signals reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of RM1.54 be broken, it may continue to lift price higher to subsequent resistance level of RM1.60,” it said.

As of last Friday, its shares were trading at 24.8 times its net book value.