Thursday 28 Mar 2024
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KUALA LUMPUR (Sep 20): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed four with positive momentum and two with negative momentum.

Stocks with positive momentum were:

Hibiscus Petroleum Bhd - up 9.5 sen or 20.43% at 56 sen

Hubline Bhd - up 0.5 sen or 7.69% at 7 sen

Lion Forest Industries Bhd - up 1 sen or 1.33% at 76 sen

Nestle Malaysia Bhd - up 20 sen or 0.23% at RM85.20

Stocks with negative momentum were:

Alam Maritim Resources Bhd – up 2 sen or 10.81% at 20.5 sen

MESB Bhd – up 1 sen or 0.94% at RM1.08 

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.
 

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