KUALA LUMPUR (July 16): theedgemarkets.com highlighted ten stocks with negative momentum at Bursa Malaysia’s afternoon close today.
The stocks with negative momentum were:
Ajiya Bhd - rose two sen at 49.5 sen
Ancom Bhd - rose four sen at 81 sen
Ancom Logistics Bhd - rose 19.5 sen at 32.5 sen
Inix Technologies Holdings Bhd - rose three sen at 13 sen
Nova Wellness Group Bhd - rose one sen or at 77.5 sen
Pegasus Heights Bhd - rose half a sen at at 2.5 sen
Scicom (MSC) Bhd - rose 2.5 sen or at RM1
TH Plantations Bhd - unchanged at 31.5 sen
WTK Holdings Bhd - fell half a sen at 43.5 sen
XOX Bhd - rose one sen at 11 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.