KUALA LUMPUR (Feb 10): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close on Thursday (Feb 10).
Three stocks indicated positive momentum while the remaining three indicated negative momentum.
The stocks with positive momentum were:
AbleGroup Bhd — up 1.5 sen at 14 sen
Cocoaland Bhd — up four sen at RM1.25
Teo Seng Capital Bhd — up 2.5 sen at 82 sen
Meanwhile, the stocks with negative momentum were:
Berjaya Food Bhd — up one sen at RM2.23
Jade Marvel Group Bhd — up half sen at 74 sen
PA Resources Bhd — unchanged at 42 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.