KUALA LUMPUR (Sept 21): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. One stock displayed positive momentum while six showed negative momentum.
The stock with positive momentum was:
BCM Alliance Bhd – up one sen at 22 sen
Stocks with negative momentum were:
Dancomech Holdings Bhd – up one sen at 48.5 sen
Dolphin International Bhd – up one sen at 12 sen
Formosa Prosonic Industries Bhd – up seven sen at RM1.52
Goodway Integrated Industries Bhd – up 2.5 sen at 27.5 sen
Ni Hsin Resources Bhd – up 1.5 sen at 25 sen
Sinotop Holdings Bhd – up 3.5 sen at 38 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.