KUALA LUMPUR (Aug 16): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close on Tuesday (Aug 16). Four stocks indicated negative momentum, while two stocks had positive momentum.
The stocks with negative momentum were:
- APB Resources Bhd — down three sen at RM1.10
- Classic Scenic Bhd — up 4.5 sen at 93.5 sen
- Global Oriental Bhd — down half a sen at 35.5 sen
- Kia Lim Bhd — up three sen at 39 sen
The stocks with positive momentum were:
- Kawan Food Bhd — up six sen at RM2
- Kelington Group Bhd — up four sen at RM1.35
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.