Stock With Momentum: Sanichi Technology

This article first appeared in The Edge Financial Daily, on December 5, 2018.
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Sanichi Technology Bhd (-ve)

Shares in Sanichi Technology Bhd (fundamental: 0.6/3, valuation: 0.9/3) edged up half a sen or 3.03% to close at 17 sen yesterday, giving it a market capitalisation of RM66.63 million.

A total of 55.8 million shares were crossed yesterday, significantly higher than its 200-day average trading volume of 3.23 million shares.

Sanichi shares have been heavily traded since Nov 16, and the shares’ trading has triggered our momentum algorithm seven times since Nov 19. Over the past one month, its share price has jumped 57%.

The ACE Market-listed company is involved in the design and fabrication of precision moulds and tooling, mainly serving the automotive sector. It ventured into the property development business in 2014, with a maiden development in Klebang, Melaka.