KUALA LUMPUR (Sept 23): theedgemarkets.com highlighted eight stocks at Bursa Malaysia's afternoon close on Friday (Sept 23).
Two stocks had positive momentum, and six had negative momentum.
The stocks with positive momentum were:
- CYL Corp Bhd — down 10.5 sen at 66 sen
- Pecca Group Bhd — up seven sen at 92 sen
The stocks with negative momentum were:
- Amtel Holdings Bhd — up 1.5 sen at 74.5 sen
- Jentayu Sustainables Bhd — up 1.5 sen at 56 sen
- Kim Hin Joo (Malaysia) Bhd — up one sen at 30 sen
- Kim Teck Cheong Consolidated Bhd — unchanged at 20.5 sen
- Sapura Industrial Bhd — up one sen at 78 sen
- SCGM Bhd — up five sen at 77.5sen
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