KUALA LUMPUR (Dec 29): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close on Wednesday (Dec 29). Six displayed negative momentum, while two indicated positive momentum.
The stocks with negative momentum were:
Country Height Holdings Bhd — up one sen at RM1.99
Konsortium Transnasional Bhd — up one and a half sen at 20.5 sen
RCE Capital Bhd — up eight sen at RM3.85
Versatile Creative Bhd — up two sen at 70 sen
Wellcall Holdings Bhd — up three sen at RM1.22
XL Holdings Bhd — up two sen at 75.5 sen
The stocks with positive momentum were:
Hock Seng Lee Bhd — up three sen at RM1.30
Sern Kou Resources Bhd — down two sen at 72 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.