KUALA LUMPUR (May 19): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed one with positive momentum and nine with negative momentum.
The stock with positive momentum was:
Eden Inc Bhd – up 1.5 sen at 25 sen
Stocks with negative momentum were:
BP Plastic Holdings Bhd – up four sen at RM1.50
Dutaland Bhd – up 3.5 sen at 52 sen
Ho Hup Construction Co Bhd – up five sen at 90 sen
Kwantas Corp Bhd – up six sen at RM1.65
MClean Technologies Bhd – up 4.5 sen at 34.5 sen
Menang Corp (M) Bhd – up 1.5 sen at 98.5 sen
Raya International Bhd – up 0.5 sen at 25 sen
Symphony Life Bhd – up four sen at RM1.01
Tomypak Holdings Bhd – up 19 sen at RM2.58
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.