KUALA LUMPUR (Aug 17): theedgemarkets.com highlighted twelve stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed positive momentum and nine showed negative momentum.
Stocks with positive momentum were:
Dancomech Holdings Bhd – up 3.5 sen at 45 sen
EG Industries Bhd – up 6.5 sen at 60.5 sen
Mikro MSC Bhd – up 2 sen at 35 sen
Stocks with negative momentum were:
Ancom Bhd – up 1 sen at 73.5 sen
Far East Holdings Bhd – down 12 sen at RM3.26
JF Technology Bhd – up 2.5 sen at 95 sen
Kim Teck Cheong Consolidated Bhd – up 0.5 sen at 18.5 sen
KUB Malaysia Bhd – up 1 sen at 36.5 sen
Lion Forest Industries Bhd – up 1.5 sen at 59.5 sen
Minho (M) Bhd – up 0.5 sen at 47.5 sen
OpenSys (M) Bhd – up 1 sen at 32 sen
Perak Transit Bhd – up 0.5 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.
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.