KUALA LUMPUR (Jan 16): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed three with positive momentum and two with negative momentum.
Stock with positive momentum was:
Bina Puri Holdings Bhd – down half a sen at 27 sen
Can-One Bhd – up five sen at RM2.62
Datasonic Group Bhd – up three sen at 52 sen
Stocks with negative momentum were:
Fitters Diversified Bhd – up one sen at 41.5 sen
Teo Seng Capital Bhd – up four sen at RM1.06
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.