Thursday 28 Mar 2024
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KUALA LUMPUR (June 10): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. The list showed four stocks with positive momentum and five stocks with negative momentum.

Stocks with positive momentum were:

Kumpulan Europlus Bhd – unchanged at 96 sen

Solution Engineering Holdings Bhd – unchanged at 46.5 sen

A-Rank Bhd – unchanged at 82.5 sen

VSolar Group Bhd – unchanged at 12 sen

Stocks with negative momentum were:

UMS-Neiken Group Bhd – unchanged at RM1.19

Nova MSC Bhd – unchanged at 12 sen

CSC Steel Holdings Bhd – unchanged at RM1.41

Trive Property Group Bhd – unchanged at 9 sen

Paragon Union Bhd – unchanged at 36 sen

The list of stocks with momentum is generated using a propriety 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.

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