KUALA LUMPUR (June 14): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon market close today. Three stocks displayed positive momentum while another three showed negative momentum.
Stocks with positive momentum were:
Hap Seng Consolidated Bhd – up 13 sen at RM9.89
Magnum Bhd – up 11 sen at RM2.34
Pos Malaysia Bhd – unchanged at RM3.90
Stocks with negative momentum were:
GFM Services Bhd – up 2.5 sen at 60 sen
Handal Resources Bhd – up 1.5 sen at 40 sen
Eversendai Corp Bhd – up 5.5 sen at RM1.05
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.