KUALA LUMPUR (Jan 24): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's noon market close today. Five stocks displayed positive momentum while one stock showed negative momentum.
The stocks with positive momentum were:
DRB-Hicom Bhd – down 8 sen at RM2.65
Hiap Teck Venture Bhd – up 1 sen at 49.5 sen
Inch Kenneth Kajang Rubber Public Ltd Co – up 2.5 sen at 73.5 sen
Kuchai Development Bhd – up 19 sen at RM2.32
UEM Sunrise Bhd – up 3 sen at RM1.23
The stock with negative momentum was:
Pensonic Holdings Bhd – up 2.5 sen at 65 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.