Friday 29 Mar 2024
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KUALA LUMPUR (Sept 21): theedgemarkets.com highlighted two stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed one with positive momentum and one with negative momentum.

The stock with positive momentum is:

Tomypak Holdings Bhd up eight sen at RM1.94

The stock with negative momentum is:

Chee Wah Corp Bhd (Valuation: 1.5; Fundamental: 0.6) up three sen at 61 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.

(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.)

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