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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Pesona Metro Highlighted as a Stock with Negative Momentum


On Monday, theedgemalaysia.com identified Pesona Metro Holdings Bhd (KL) as a stock with negative momentum during the noon market break. Despite a slight increase of half a sen or 2% to 26 sen, the stock has shown signs of a downward trend in trading volume and price.

Key Takeaways:

  1. Negative Momentum Indicator: Pesona Metro was flagged as having negative momentum, indicating a potential declining price trend on higher-than-normal trading volume. This suggests that the stock may be facing selling pressure despite the minor price increase.

  2. Momentum Algorithm: The identification of negative momentum is based on a proprietary mathematical algorithm that tracks stocks exhibiting unusual volume and price movements. The algorithm distinguishes between positive (+ve) and negative (-ve) momentum to give investors insight into market trends.

  3. Cautionary Note: It's important to note that the momentum indicator is not a buy or sell recommendation. While the stock's price may rise or fall, the momentum indicator provides a short-term perspective on market trends. Investors should consider the accompanying fundamental and valuation scores before making any decisions.

For further analysis and detailed financial information on Pesona Metro and other stocks, readers are encouraged to subscribe to AbsolutelyStocks.

This alert serves as a tool for investors to gauge market sentiment and make informed decisions based on short-term momentum indicators.

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