KUALA LUMPUR (May 3): theedgemarkets.com highlighted 12 stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, while nine showed negative momentum.
The stocks with positive momentum were:
ATTA Global Group Bhd — down 2.5 sen at 57.5 sen
Golden Pharos Bhd — unchanged at 39.5 sen
Nylex (M) Bhd — down 2.5 sen at 86.5 sen
The stocks with negative momentum were:
Chuan Huat Resources Bhd — down five sen at 58.5 sen
Fibon Bhd — up 1.5 sen at 47.5 sen
Leon Fuat Bhd — up 10 sen at RM1.10
PA Resources Bhd — down one sen at 53.5 sen
Selangor Dredging Bhd — down two sen at 73.5 sen
Tashin Holdings Bhd — down five sen at 78.5 sen
Turbo-Mech Bhd — unchanged at 86.5 sen
Watta Holdings Bhd — up five sen at 73.5 sen
YLI Holdings Bhd — unchanged at 42 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.