KUALA LUMPUR (July 23): theedgemarkets.com highlighted 13 stocks with momentum at Bursa Malaysia's afternoon market close today. Two stocks have positive momentum while eleven have negative momentum.
Stocks with positive momentum are:
Khee San Bhd (fundamental: 0.3; valuation: 1.7) up 2.5 sen at 89 sen
Jaycorp Bhd (fundamental: 1.4; valuation: 2.6) up 2.5 sen at 87.5 sen
Stocks with negative momentum are:
Rexit Bhd (fundamental: 1.95; valuation: 1.3) up two sen at 47.5 sen
Heng Huat Resources Group Bhd (fundamental: N/A; valuation: N/A) up three sen at 52.5 sen
Datasonic Group Bhd (fundamental: 0.8; valuation: 0.9) up 11 sen at RM1.36
Only World Group Holdings Bhd (fundamental: N/A; valuation: N/A) up 18 sen at RM2.89
SYF Resources Bhd (fundamental: 0.8; valuation: 1.5) up two sen at 55 sen
Oriental Food Industries Holdings Bhd (fundamental: 2.8; valuation: 1.1) up nine sen at RM6.04
D'nonce Technology Bhd (fundamental: 0.95; valuation: 0.9) up two sen at 57 sen
Pentamaster Corp Bhd (fundamental: 2.1; valuation: 0.5) 1.5 sen at 90.5 sen
Barakah Offshore Petroleum Bhd (fundamental: 1.95; valuation: 0.3) up two sen at 97.5 sen
Golden Land Bhd (fundamental: 0.7; valuation: 2) down six sen at RM1.74
Denko Industrial Corp (fundamental: 0.8; valuation: 0.9) up two sen at 37 sen
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.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for details on a company’s financial dashboard.)