KUALA LUMPUR (Feb 17): theedgemarkets.com highlighted 24 stocks with momentum at Bursa Malaysia's afternoon close today. Four stocks showed positive momentum while 20 stocks displayed negative momentum.
The stocks with positive momentum were:
Classic Scenic Bhd – up nine sen at RM1.38
Dataprep Holdings Bhd – up 19 sen at 61 sen
Turbo-Mech Bhd – up three sen at 89.5 sen
Turiya Bhd – up nine sen at 43 sen
The stocks with negative momentum were:
AYS Ventures Bhd – up half a sen at 28.5 sen
Chin Hin Group Property Bhd – up four sen at 92.5 sen
Engtex Group Bhd – up half a sen at 69 sen
Harrisons Holdings (Malaysia) Bhd – up six sen at RM4
Hiap Teck Venture Bhd – up two sen at 42 sen
Hong Seng Consolidated Bhd – up 13 sen at RM1.55
Grand Hoover Bhd – up 11 sen at RM1.82
Johan Holdings Bhd – up two sen at 19 sen
Kerjaya Prospek Property Bhd – up three sen at RM1.27
Leon Fuat Bhd – up 2.5 sen at 57.5 sen
Malaysia Steel Works (KL) Bhd (Masteel) – up two sen at 62.5 sen
Melewar Industrial Group Bhd – up two sen at 52 sen
Minho (M) Bhd – up 4.5 sen at 41 sen
Mycron Steel Bhd – up 2.5 sen at 64 sen
Ralco Corp Bhd – up 21 sen at RM1.29
Sapura Energy Bhd – up one sen at 14.5 sen
Sasbadi Holdings Bhd – up half a sen at 14 sen
Southern Steel Bhd – up six sen at 82.5 sen
Tiong Nam Logistics Holdings Bhd – up four sen at 93 sen
UPA Corp Bhd – up 15 sen at RM2.49
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.