KUALA LUMPUR (March 21): theedgemarkets.com highlighted 16 stocks with momentum at Bursa Malaysia's afternoon market close today. Two stock showed positive momentum while 14 had negative momentum.
Stocks with positive momentum were:
CAB Cakaran Corp Bhd – up 17 sen at RM1.85
ManagePay Systems Bhd – up four sen at 27.5 sen
Stocks with negative momentum were:
Advance Synergy Bhd – up 0.5 sen at 16.5 sen
Asia Brands Bhd – up one sen at RM1.11
Boon Koon Group Bhd – up 2.5 sen at 19.5 sen
Chin Hin Group Bhd – unchanged at RM1.40
Halex Holdings Bhd – up 2.5 sen at 64 sen
Ivory Properties Group Bhd – up 0.5 sen at 58 sen
Kumpulan Perangsang Selangor Bhd – up 22 sen at RM1.57
MPHB Capital Bhd – up nine sen at RM1.59
Omesti Bhd – up 1.5 sen at 53.5 sen
Prinsiptek Corp Bhd – up 1.5 sen at 18.5 sen
Puncak Niaga Holdings Bhd – up one sen at RM1.04
Scope Industries Bhd – up 1.5 sen at 24 sen
Tanco Holdings Bhd – up two sen at 11.5 sen
Turiya Bhd – up one sen at 21.5 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.