KUALA LUMPUR (June 3): theedgemarkets.com has highlighted 16 stocks with negative momentum at Bursa Malaysia’s noon market close today.
The stocks that showed negative momentum were:
Adventa Bhd – down 40 sen at RM1.57
Alam Maritim Resources Bhd – up half a sen at 10 sen
Apex Equity Holdings Bhd – up 10 sen at 98 sen
Asia Poly Holdings Bhd – up half a sen at eight sen
AT Systematization Bhd – unchanged at eight sen
CSC Steel Holdings Bhd – up one sen at 95 sen
Hartalega Holdings Bhd – down RM1.52 at RM11.22
Hibiscus Petroleum Bhd – unchanged at 68.5 sen
Malaysia Building Society Bhd – up 3.5 sen at 71 sen
N2N Connect Bhd – down one sen at 87 sen
Oversea Enterprise Bhd - up half a sen at 14.5 sen
Scomi Group Bhd – up one sen at five sen
SuperComnet Technologies Bhd – down eight sen at RM1.03
TechBond Group Bhd – up half a sen at 75.5 sen
TexChem Resources Bhd – up three sen at 38 sen
UOA Development Bhd – up three sen at RM1.88
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.