KUALA LUMPUR (Oct 2): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks showed positive momentum while two displayed negative momentum.
Stocks with positive momentum were:
Astino Bhd - down half a sen at 67.5 sen
PLS Plantations Bhd - unchanged at 90 sen
Scientex Bhd - up 18 sen at RM11.28
Stocks with negative momentum were:
Prolexus Bhd - up 13 sen at RM1.05
Wong Engineering Corp Bhd - down two sen at 94 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.