KUALA LUMPUR (April 11): theedgemarkets.com highlighted eight stocks with negative momentum at Bursa Malaysia's afternoon market close today.
The stocks were:
Asian Pac Holdings Bhd - up 1.5 sen at 15.5 sen
Bio Osmo Bhd - up 0.5 sen at 7.5 sen
Datasonic Group Bhd - unchanged at 54 sen
Malton Bhd - up 4.5 sen at 62 sen
Sedania Innovator Bhd - up 1.5 sen at 14.5 sen
Sterling Progress Bhd - down 0.5 sen at 19 sen
Toyo Ink Group Bhd - up 6.5 sen at 76 sen
UEM Sunrise Bhd - up 5 sen at 92 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.