KUALA LUMPUR (Oct 18): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks showed positive momentum while the other three showed negative.
Stocks with positive momentum were:
D’Nonce Technology Bhd - up 1 sen at 43 sen
QL Resources Bhd - up 6 sen at RM7.02
Merge Energy Bhd - down 2.5 sen at 78.5 sen
Stocks with negative momentum were:
Hong Leong Bank Bhd - up 2 sen at RM20.70
K-One Technology Bhd - down 0.5 sen at 25.5 sen
Pineapple Resources Bhd - up 9 sen at 60 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.