KUALA LUMPUR (April 21): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed four with positive momentum and six with negative momentum.
Stocks with positive momentum were:
Ge-Shen Corp Bhd – up 14 sen at RM2.39
Petra Energy Bhd – down one sen at RM1.21
SMRT Holdings Bhd – up one sen at 23 sen
Wong Engineering Corp Bhd – up seven sen at 81 sen
Stocks with negative momentum were:
GD Express Carrier Bhd – up eight sen at RM2.46
Prestariang Bhd – up one sen at RM2.38 (at 5pm)
Seacera Group Bhd – up one sen at RM1.30
Tiger Synergy Bhd – up one sen at seven sen
Turbo-Mech Bhd – up 0.5 sen at 95 sen
UMW Holdings Bhd – up one sen at RM6.15
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.