KUALA LUMPUR (Nov 23): theedgemarkets.com highlighted 13 stocks with negative momentum at Bursa Malaysia's afternoon break today.
The stocks with negative momentum were:
CSC Steel Holdings Bhd – down 2.5 sen at 94 sen
Eonmetall Group Bhd – up 12 sen at 71.5 sen
Hextar Global Bhd – up three sen at 81.5 sen
Khind Holdings Bhd – up one sen at RM2.28
Malaysian Bulk Carriers Bhd – up seven sen at 54.5 sen
MESB Bhd – up three sen at 48.5 sen
OKA Corp Bhd – up four sen at 70 sen
PA Resources Bhd – up half a sen at 15.5 sen
Rex Industry Bhd – up 1.5 sen at 20 sen
Sapura Resources Bhd – unchanged at 48 sen
Tiong Nam Logistics Holdings Bhd – up 11 sen at 79 sen
Tri-Mode System (M) Bhd – up 2.5 sen at 53.5 sen
United U-Li Corp Bhd – up 15.5 sen at 75 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.