KUALA LUMPUR (Feb 28): theedgemarkets.com highlighted one stock with positive momentum and eight stocks with negative momentum at Bursa Malaysia's afternoon close on Tuesday (Feb 28).
The stock with positive momentum was:
- MCT Bhd — up one sen or 5.88% at 18 sen
The stocks with negative momentum were:
- SMRT Holdings Bhd — up five sen or 13.16% at 43 sen
- Oversea Enterprise Bhd — down 0.5 sen or 3.57% at 13.5 sen
- Southern Cable Group Bhd — down one sen or 2.78% at 35 sen
- Paramount Corp Bhd — up five sen or 5.95% at 89 sen
- YTL Power International Bhd — up one sen or 1.35% at 75 sen
- YLI Holdings Bhd — up two sen or 6.15% at 34.5 sen
- CAB Cakaran Corp Bhd — up 1.5 sen or 2.88% at 53.5 sen
- Ralco Corp Bhd — up nine sen or 9% at RM1.09
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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com