KUALA LUMPUR (Aug 27): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks displayed positive momentum while five showed negative momentum.
Stocks with positive momentum were:
Kobay Technology Bhd – up 10 sen at RM1.37
Majuperak Holdings Bhd – up 2.5 sen at 35.5 sen
Stocks with negative momentum were:
Asia Media Group Bhd – up 1 sen at 13 sen
Dayang Enterprise Holdings Bhd – up 2 sen at 79 sen
Inix Technologies Holdings Bhd – up 1 sen at 10 sen
Karyon Industries Bhd – up 1.5 sen at 22.5 sen
Pesona Metro Holdings Bhd – up 2 sen at 33 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.