KUALA LUMPUR (Jan 6): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon close today. The list showed two stocks with positive momentum and six with negative momentum.
Stocks with positive momentum were:
Ancom Logistics Bhd — unchanged at 6.5 sen
Willowglen MSC Bhd — up 3 sen at 56 sen
Stocks with negative momentum were:
Alam Maritim Resources Bhd — up 3.5 sen at 18 sen
Brite-Tech Bhd — unchanged at 23 sen
Freight Management Holdings Bhd — down 1 sen at 61 sen
Icon Offshore Bhd — up 1 sen at 6.5 sen
Oka Corp Bhd — up 3.5 sen at 81 sen
Tadmax Resources Bhd — up 0.5 sen at 30.5 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.