Straits Energy, Revenue, AEON Co, Notion VTec, L&P Global, MBSB, Hume Cement, VSTECS, ELK-Desa, Icon Offshore, Dancomech, WMG, SCGM, Jiankun International, Mitrajaya

TheEdge Thu, May 16, 2024 02:45pm - 4 weeks View Original


KUALA LUMPUR (May 16): theedgemalaysia.com highlighted three stocks with positive momentum and 12 stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday.  

The stocks with positive momentum were:

  • Straits Energy Resources Bhd (KL:STRAITS) — up one sen or 7.69% to 14 sen
  • Revenue Group Bhd (KL:REVENUE) — unchanged at 24.5 sen
  • AEON Co (M) Bhd (KL:AEON) — up 12 sen or 10% to RM1.32

The stocks with negative momentum were:

  • Notion VTec Bhd (KL:NOTION) — up 22 sen or 36.36% to 82.5 sen
  • L&P Global Bhd (KL:L&PBHD) — unchanged at 44 sen
  • Malaysia Building Society Bhd or MBSB (KL:MBSB) — up 2.5 sen or 3.07% to 84 sen
  • Hume Cement Industries Bhd (KL:HUMEIND) — down five sen or 1.55% to RM3.17
  • VSTECS Bhd (KL:VSTECS) — up 2.5 sen or 7.46% to RM3.60
  • ELK-Desa Resources Bhd (KL:ELKDESA) — unchanged at RM1.28
  • Icon Offshore Bhd (KL:ICON) — up half a sen or 0.63% at 79.5 sen
  • Dancomech Holdings Bhd (KL:DANCO) — up two sen or 4.04% to 51.5 sen
  • WMG Holdings Bhd (KL:WMG) — up 4.5 sen or 14.06% to 36.5 sen
  • SCGM Bhd (KL:SCGM) — up four sen or 5.97% to 71 sen
  • Jiankun International Bhd (KL:JIANKUN) — unchanged at 17 sen
  • Mitrajaya Holdings Bhd (KL:MITRA) — up 2.5 sen or 9.26% to 29.5 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

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

AEON 1.420
BURSA 8.830
DANCO 0.515
ELKDESA 1.260
HUMEIND 3.270
ICON 1.140
JIANKUN 0.140
L&PBHD 0.515
MBSB 0.915
MITRA 0.360
NOTION 1.810
NOTION-WD 1.430
REVENUE 0.230
SCGM 0.680
STRAITS 0.140
VSTECS 4.270

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