KUALA LUMPUR (June 13): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks displayed positive momentum while four stocks had negative momentum.
Stocks with positive momentum were:
Bermaz Auto Bhd - up 11 sen at RM2.44
GSB Group Bhd - up 1.5 sen at 23 sen
Stocks with negative momentum were:
GFM Services Bhd - down one sen at 50 sen
Ideal United Bintang International Bhd - down 5.5 sen at 86.5 sen
Rapid Synergy Bhd - unchanged at RM5.89
Rhone Ma Holdings Bhd - up 0.5 sen at 96.5 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.