Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 21): theedgemarkets.com highlighted three stocks with momentum at Bursa Malaysia's afternoon close on Friday (Oct 21). Two had positive momentum, while one showed negative momentum.

The stocks with positive momentum were:

  • Hextar Industries Bhd — up 4.5 sen at 56.5 sen
  • Berjaya Food Bhd — up five sen at 98 sen

The stock with negative momentum was:

  • Econframe Bhd — up two sen at 70.5 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.

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

Edited ByChong Jin Hun
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