KUALA LUMPUR (Jan 7): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close on Friday (Jan 7). Two indicated positive momentum, while six displayed negative momentum.
The stock with positive momentum were:
Grand Hoover Bhd — up 16 sen at RM1.09
TWL Holdings Bhd — up half a sen at 6.5 sen
The stocks with negative momentum were:
AHB Holdings Bhd — up two and a half sen at 15.5 sen
Axteria Group Bhd — up one sen at 25 sen
Imaspro Corp Bhd — unchanged at RM2.59
Pecca Group Bhd — up three sen at RM3.43
Spring Art Holdings Bhd — unchanged at 31.5 sen
Teo Seng Capital Bhd — up one and a half sen at 79.5 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.