KUALA LUMPUR (July 23): theedgemarkets.com highlighted 11 stocks at Bursa Malaysia’s afternoon close today. Two stocks displayed positive momentum while nine stocks showed negative momentum.
The stocks with positive momentum were:
Duopharma Biotech Bhd – up 10 sen at RM3.06
Pharmaniaga Bhd – up one sen at RM4.56
The stocks with negative momentum were:
Apex Healthcare Bhd – down 23 sen at RM3.74
Iqzan Holding Bhd – up 4.5 sen at 16.5 sen
Kotra Industries Bhd – down 11 sen at RM3.46
PDZ Holdings Bhd – down 1.5 sen at 17.5 sen
Rexit Bhd – up two sen at 70 sen
Sunzen Biotech Bhd – up five sen at 18 sen
Thong Guan Industries Bhd – up 23 sen at RM4.57
Vstecs Bhd – up 23 sen at RM2.34
XOX Bhd – down half a sen at 18 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.