Friday 29 Mar 2024
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KUALA LUMPUR (Nov 11): theedgemarkets.com highlighted 10 stocks at Bursa Malaysia's afternoon market close. Three stocks showed positive momentum while seven showed negative momentum.

Stocks with positive momentum were:

Sarawak Cable Bhd - down four sen at RM1.66

Ge-Shen Corp Bhd - up 23 sen at RM1.69

Jaycorp Bhd - up 13 sen at RM1.01


Stocks with negative momentum were:

TMC Life Sciences Bhd - up one sen at 58.5 sen

EG Industries Bhd - down four sen at 80.5 sen

Caely Holdings Bhd - down one sen at 53 sen

Cworks System Bhd - up four sen at 27.5 sen

MWE Holdings Bhd - up four sen at RM1.40

BLD Plantation Bhd - up five sen at RM9.20

Perusahaan Sadur Timah Malaysia (Perstima) Bhd - up two sen at RM5.28

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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