KUALA LUMPUR (April 23): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia's noon market close today. Two stock displayed positive momentum while seven stocks showed negative momentum.
The stock with positive momentum was:
Ekovest Bhd – down 8.5 sen to 88.5 sen
Iskandar Waterfront City Bhd – down 9 sen to RM1.23
The stock with negative momentum was:
Daibochi Bhd – up 22 sen to RM2.27
Gadang Holdings Bhd – down 3.5 sen to 91 sen
Impiana Hotels Bhd – unchanged at 6.5 sen
PLS Plantations Bhd – down 18 sen to RM1.08
TMC Life Sciences Bhd – up 0.5 sen to 76.5 sen
Velesto Energy Bhd – up one sen to 31.5 sen
Vstecs Bhd – unchanged at RM1.02
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.