Friday 29 Mar 2024
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KUALA LUMPUR (Jan 30): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Three showed positive momentum while another three displayed negative momentum.

Stocks with positive momentum were:

Vsolar Group Bhd – up 0.5 sen at 14 sen

Xin Hwa Holdings Bhd – up 1 sen at 85.5 sen

Teo Seng Capital Bhd - unchanged at RM1.03

Stocks with negative momentum were:

Carimin Petroleum Bhd – up 2 sen at 73.5 sen

London Biscuits Bhd – up 1.5 sen at 58.5 sen

T7 Global Bhd - unchanged at 40 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.

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

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