KUALA LUMPUR (Oct 4): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed one with positive momentum and five with negative momentum.
Stock with positive momentum was:
Elsoft Research Bhd – up four sen at 97 sen
Stocks with negative momentum were:
FoundPac Group Bhd – up two sen at 43 sen
GUH Holdings Bhd – unchanged at 49.5 sen
MMAG Holdings Bhd – down one sen at 35 sen
Prolexus Bhd – up 4.5 sen at 86.5 sen
Salutica Bhd – up 0.5 sen at 83.5 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.