Tuesday 19 Mar 2024
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KUALA LUMPUR (Aug 3): theedgemarkets.com has highlighted eight stocks with momentum at afternoon market close today.

TPC Bhd shows positive momentum, while the remaining stocks show negative momentum.

The stocks are:

TPC Bhd (fundamental: 0.75; valuation: 0.3) down 8.5 sen at 61.5 sen

iDimension Consolidated Bhd (fundamental: 1.45; valuation: 0.3) up 1.5 sen at 14.5 sen

Hume Industries Bhd (fundamental: 1.1; valuation: 0.3) up 9 sen at RM3.89

Tong Herr Resources Bhd (fundamental: 1.8; valuation: 2.6) up 15 sen at RM2.28

BP Plastics Holdings Bhd (fundamental: 2.5; valuation: 1.4) up 3.5 sen at RM1.03

Supermax Corporation Bhd (fundamental: 1; valuation: 0.8) up 4 sen at RM2.50

Dominant Enterprise Bhd (fundamental: 1; valuation: 1.8) up 4 sen at RM1.87

Rubberex Corporation (M) Bhd (fundamental: 1.4; valuation: 2.6) unchanged at 80.5 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.

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.

(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. Go to www.theedgemarkets.com for details on a company’s financial dashboard.).

 

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