KUALA LUMPUR (April 9): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close today. Two stock displayed positive momentum, while seven showed negative momentum.
The stocks with positive momentum were:
Axiata Group Bhd — up 36 sen at RM4.16
REDtone Digital Bhd — up three sen at 45 sen
The stocks with negative momentum were:
ALCOM Group Bhd — up 11 sen at 90 sen
Chin Well Holdings Bhd — up five sen at RM1.31
Kim Hin Industry Bhd — up eight sen at 98 sen
PWF Corporation Bhd — up two sen at 67 sen
Salcon Bhd — up half a sen at 25 sen
Sarawak Plantation Bhd — up four sen at RM2.40
SYF Resources Bhd — down 1.5 sen 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.