KUALA LUMPUR (July 16): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon market close today. One stock showed positive momentum while four others had negative momentum.
The stock with positive momentum was:
Focus Point Holdings Bhd - unchanged at 55 sen
Stocks with negative momentum were :
Chin Hin Group Bhd - down 2 sen at 85.5 sen
Elk-Desa Resources Bhd - up 5 sen at RM1.67
Hiap Huat Holdings Bhd - up 1 sen at 13.5 sen
Salutica Bhd - up 1 sen at 53.5 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.