KUALA LUMPUR (Aug 29): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. One stock displayed positive momentum while five showed negative momentum.
The stock with positive momentum was:
XOX Bhd – down 0.5 sen at 7.5 sen
Stocks with negative momentum were:
Daiman Development Bhd – unchanged at RM2.82
Elsoft Research Bhd – up 14 sen at RM3.35
Kobay Technology Bhd – up 19 sen at RM1.52
Pesona Metro Holdings Bhd – up 1.5 sen at 33 sen
Sanbumi Holdings Bhd – up 1.5 sen at 18 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.