KUALA LUMPUR (Jan 6): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close on Thursday (Jan 6). Three displayed positive momentum, while two indicated negative momentum.
The stocks with positive momentum were:
Elsoft Research Bhd — up four sen at RM1.15
Mieco Chipboard Bhd — up half a sen at 58.5 sen
SMTrack Bhd — up half a sen at 26.5 sen
The stock with negative momentum were:
Axteria Group Bhd — unchanged at 24 sen
Tex Cycle Technology (M) Bhd — up one-and-a-half sen at 60.5 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.