KUALA LUMPUR (Nov 17): theedgemarkets.com highlighted six stocks with negative momentum at Bursa Malaysia’s afternoon close on Wednesday (Nov 17).
The stocks were:
BSL Corp Bhd — down 17 sen at RM1.85
Yinson Holdings Bhd — up nine sen at RM6.09
Caely Holdings Bhd — down two sen at 40 sen
Heng Huat Resources Group Bhd — up 1.5 sen at 70.5 sen
Nova Wellness Group Bhd — up 3.5 sen at 95 sen
Perak Transit Bhd — down 1.5 sen at 69 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.