KUALA LUMPUR (Sept 14): theedgemarkets.com highlighted seven stocks with negative momentum at Bursa Malaysia’s afternoon close today.
Stocks with negative momentum were:
Destini Bhd - rose one sen at 32.5 sen
Hiap Teck Venture Bhd - rose three sen at 21 sen
Inta Bina Group Bhd - rose three sen at 33.5 sen
Kanger International Bhd - rose 4.5 sen at 30.5 sen
Malton Bhd - rose 3.5 sen at 56.5 sen
MMAG Holdings Bhd - rose 30 sen at RM1.16
Parkson Holdings Bhd - rose 11 sen at 20.5 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.