KUALA LUMPUR (July 17): theedgemarkets.com highlighted nine stocks with negative momentum at Bursa Malaysia’s afternoon close today.
The stocks with negative momentum were:
Ancom Logistics Bhd — up 25 sen at 38 sen
Eversafe Rubber Bhd — up 4.5 sen at 25.5 sen
Fajarbaru Builder Group Bhd — up 4.5 sen at 40.5 sen
Green Ocean Corp Bhd — up one sen at 14.5 sen
JCY International Bhd — up 2.5 sen at 50.5 sen
Lambo Group Bhd — up 1.5 sen at 3.5 sen
Pasukhas Group Bhd — up two sen at seven sen
TA Global Bhd — up half a sen at 25.5 sen
Versatile Creative Bhd — up three sen at 60 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.