KUALA LUMPUR (Sept 28): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia’s afternoon market close today. All stocks showed negative momentum.
Stocks with negative momentum were:
AWC Bhd – up 0.5 sen at 91 sen
Crescendo Corp Bhd – up three sen at RM1.36
Dancomech Holdings Bhd – down 0.5 sen at 54.5 sen
Dataprep Holdings Bhd – up one sen at 25 sen
Elk-Desa Resources Bhd – unchanged at RM1.19
Focus Dynamics Group Bhd – up 0.5 sen at 14.5 sen
Guan Chong Bhd – up 12 sen at RM2.45
Hiap Teck Venture Bhd – up two sen at 43 sen
K-One Technology Bhd – up 1.5 sen at 22 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.