KUALA LUMPUR (Nov 13): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks displayed positive momentum while three had negative momentum.
Stocks with positive momentum were :
Cycle & Carriage Bintang Bhd - up 43 sen at RM2.10
Magni-Tech Industries Bhd - up eight sen at RM2.69
Stocks with negative momentum were:
Fintec Global Bhd - down 0.5 sen at seven sen
MClean Technologies Bhd - up two sen at 18 sen
Tanco Holdings Bhd - up 0.5 sen at eight 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 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.