Keep an eye on the price momentum at Shin Foong Specialty And Applied Materials Co
Anyone familiar with stock market screeners will know that shares in Shin Foong Specialty And Applied Materials Co (TPE:6582) have been in an uptrend in recent months, with strong relative price strength on a 1-month, 6-month and 12-month basis.
Knowing exactly what drives relative strength in share prices (as well as how to find shares with good strength) can help you find profitable trading ideas.
Shin Foong Specialty And Applied Materials Co's (TPE:6582) recent share price performance
In terms of relative price strength the stock has performed well against the market over the past year:
- 1 Month: 31.0%
- 6 Months: 185.5%
- 12 Months: 188.7%
Why does that matter? Relative strength is a useful tool for technical traders and investors, providing an instant measure of how a stock has performed in comparison with a benchmark.
Studies by leading experts on momentum show that stocks with the strongest price strength tend to keep up the pace for anywhere up to one year as investors increasingly buy in to them.
Finding shares with a given relative price against your local share index is best done with a screening tool, which helps you discover shares you may have never heard of.
What does this mean for potential investors?
Shin Foong Specialty and Applied Materials Co is currently among the stocks with the strongest six-month and one-year relative price strength in the market. But momentum on its own is no guarantee of future returns.
To get a better idea about whether this momentum will continue, it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Shin Foong Specialty and Applied Materials Co that you can find out about here.
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