KUALA LUMPUR (Jan 7): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed two with positive momentum and five with negative momentum.
Stocks with positive momentum were :
Carimin Petroleum Bhd – up three sen at 61 sen
Orion IXL Bhd – up one sen at 11.5 sen
Stocks with negative momentum were:
Asdion Bhd – up one sen at 20.5 sen
Inix Technologies Holdings Bhd – up 1.5 sen at 11.5 sen
Johore Tin Bhd – up six sen at RM1.06
London Biscuits Bhd – up 0.5 sen at 64 sen
Oriental Holdings Bhd – up four sen at RM6.24
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.