KUALA LUMPUR (Feb 27): theedgemalaysia.com highlighted one stock with positive momentum and 15 stocks with negative momentum at Bursa Malaysia's afternoon close on Tuesday.
The stock with positive momentum was:
- Able Global Bhd — up nine sen or 5.73% to RM1.66
The stocks with negative momentum were:
- OpenSys (M) Bhd — up one sen or 2.74% to 37.5 sen
- Powerwell Holdings Bhd — up half a sen or 1.64% to 31 sen
- Mesiniaga Bhd — up 11 sen or 6.92% to RM1.70
- Avaland Bhd — up two sen or 6.78% to 31.5 sen
- Kia Lim Bhd — up half a sen or 0.65% to 78 sen
- B.I.G Industries Bhd — down half a sen or 0.69% to 72 sen
- Kumpulan H&L High-Tech Bhd — up 1.5 sen or 1.66% to 92 sen
- Fajarbaru Builder Group Bhd — up one sen or 3.03% to 34 sen
- Asia File Corporation Bhd — down one sen or 0.46% to RM2.15
- CAB-Cakaran Corporation Bhd — up half a sen or 0.62% to 81.5 sen
- UMS-Neiken Group Bhd — up 16 sen or 17.02% to RM1.10
- Tiong Nam Logistics Holdings Bhd — up 2.5 sen or 3.5% to 74 sen
- Thete Edge Bhd — up seven sen or 8.14% to 93 sen
- Prestar Resources Bhd — unchanged at 43 sen
- Leader Steel Holdings Bhd — up 1.5 sen or 3.13% to 49.5 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