KUALA LUMPUR (June 12): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon market close today. One stock displayed positive momentum while four showed negative momentum.
The stock with positive momentum was :
Bonia Corp Bhd - up 1.5 sen at 35 sen
Stocks with negative momentum were :
SMTRACK Bhd - up 0.5 sen at 18.5 sen
Tadmax Resources Bhd - up one sen at 29.5 sen
Ikhmas Jaya Group Bhd - unchanged at 21 sen
Kumpulan Powernet Bhd - unchanged at 81.5 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.