KUALA LUMPUR (Oct 2): theedgemarkets.com highlighted twelve stocks with momentum at Bursa Malaysia’s afternoon market close today. All stocks displayed negative momentum.
The stocks with negative momentum were:
Amverton Bhd - down 1 sen at RM1.14
AWC Bhd - unchanged at 89 sen
Dancomech Holdings Bhd - up 0.5 sen at 56 sen
Icon Offshore Bhd - up 0.5 sen at 16 sen
Ideal Jacobs (M) Corp Bhd - up 1 sen at 38 sen
LKL International Bhd - unchanged at 15 sen
Merge Energy Bhd - up 4.5 sen at 44.5 sen
Ni Hsin Resources Bhd - up 1.5 sen at 31 sen
Perdana Petroleum Bhd - up 3 sen at 34 sen
Reach Energy Bhd - up 1.5 sen at 51 sen
Rev Asia Bhd - up 0.5 sen at 34 sen
SAM Engineering & Equipment (M) Bhd - up 27 sen at RM7.79
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.