KUALA LUMPUR (Sept 28): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, while five showed negative momentum.
Stocks with positive momentum were:
DPI Holdings Bhd - up 1.5 sen at 22.5 sen
Menang Corp (M) Bhd - up two sen at 56 sen
Metronic Global Bhd - up one sen at nine sen
Stocks with negative momentum were:
K-Star Sports Ltd - rose 3.5 sen to 21.5 sen
Mah Sing Group Bhd - rose 4.5 sen to 76 sen
Perak Transit Bhd - unchanged at 28.5 sen
SMTrack Bhd - rose five sen to 34.5 sen
Wong Engineering Corp Bhd - rose 7.5 sen to 85 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.