KUALA LUMPUR (June 15): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia’s afternoon close today. All stocks displayed negative momentum.
The stocks with negative momentum were:
A-Rank Bhd — unchanged at 65.5 sen
Cabnet Holdings Bhd — down one sen at 29.5 sen
Central Global Bhd — down 13 sen at RM2.55
Hiap Teck Ventures Bhd — unchanged at 59 sen
Ireka Corporation Bhd — down one sen at 58 sen
K Seng Seng Corporation Bhd — down five sen at 79.5 sen
Kuchai Development Bhd — down three sen at RM1.69
Malaysian Bulk Carriers Bhd (Maybulk) — up two sen at 69.5 sen
MPHB Capital Bhd — down five sen at RM1.65
Mulpha International Bhd — down three sen at RM1.78
REX Industries Bhd — up five sen at 26 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.