KUALA LUMPUR (April 22): theedgemarkets.com highlighted ten stocks with momentum at Bursa Malaysia's noon market close today. One stock displayed positive momentum while nine stocks showed negative momentum.
The stock with positive momentum was:
Gadang Holdings Bhd - up 12 sen to 83.5sen
The stock with negative momentum was:
Benalec Holdings Bhd - fell 0.5 sen at 21.5 sen
DWL Resources Bhd – up 38 sen at RM1.69
Econpile Holdings Bhd – up 17 sen at 75.5 sen
Ekovest Bhd – up 30 sen at 97 sen
Gromutual Bhd – up 0.5 sen at 32.5 sen
Ho Hup Construction Company Bhd – up 0.5 sen at 50 sen
KimLun Corporation Bhd – up seven sen at RM1.43
Malton Bhd – up 6.5 sen at 64 sen
OCR Group Bhd – up two sen at 32 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.