KUALA LUMPUR (March 12): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia's noon market close today. All nine stocks displayed negative momentum.
The stocks with negative momentum were:
Dancomech Holdings Bhd – up 4.5 sen at 65.5 sen
Damansara Realty Bhd – up 5 sen at 53 sen
Fajarbaru Builder Group Bhd – up 2.5 sen at 43.5 sen
Kian Joo Can Factory Bhd – up 2 sen at RM3.09
PCCS Group Bhd – up 5 sen at 38.5 sen
Perdana Petroleum Bhd – up 1 sen at 30 sen
Scope Industries Bhd – up 2 sen at 21 sen
Unimech Group Bhd – up 8 sen at RM1.15
Velesto Energy Bhd – up 2.5 sen at 30.5 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.