KUALA LUMPUR (Jan 2): theedgemarkets.com highlighted 12 stocks with momentum at Bursa Malaysia’s afternoon close today. The list showed three stocks with positive momentum and nine with negative momentum.
Stocks with positive momentum were:
Kronologi Asia Bhd – up 8.5 sen at 83.5 sen
Public Packages Holdings Bhd – up 15 sen at RM1.23
Vivocom Intl Holdings Bhd – up 1 sen at 2.5 sen
Stocks with negative momentum were:
AppAsia Bhd – up two sen at 16 sen
Bright Packaging Industry Bhd — up 9.5 sen at 48 sen
CB Industrial Product Holding Bhd – up 10 sen at RM1.20
ES Ceramics Technology Bhd – unchanged at 20.5 sen
Kejuruteraan Asastera Bhd — up 3.5 sen at RM1
Melewar Industrial Group Bhd — up 4.5 sen at 21.5 sen
Microlink Solutions Bhd — up 0.5 sen at 88 sen
Revenue Group Bhd — up 11 sen at RM1.50
TH Heavy Engineering Bhd — up 2 sen at 11 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.