KUALA LUMPUR (Oct 11): theedgemarkets.com highlighted 13 stocks with momentum at Bursa Malaysia’s afternoon close on Monday.
11 stocks displayed negative momentum, while two showed positive momentum.
The stocks with negative momentum were:
Eastern & Oriental Bhd — up two sen at 65 sen
Ecofirst Consolidated Bhd — unchanged at 41 sen
Coastal Contracts Bhd — up 21 sen at RM1.11
iCapital.biz Bhd — up nine sen at RM2.51
Pantech Group Holdings Bhd — down 0.5 sen at 62.5 sen
Only World Group Holdings Bhd (OWG) — down two sen at 57 sen
Lingkaran Trans Kota Holdings Bhd (Litrak) — up 10 sen at RM3.92
United U-Li Corp Bhd — up nine sen at RM1.65
AWC Bhd — up 2.5 sen at 56 sen
HIL Industries Bhd — up four sen at RM1.04
Brahim’s Holdings Bhd — up five sen at 41.5 sen
The stocks with positive momentum were:
AirAsia Group Bhd — up nine sen at RM1.28
Theta Edge Bhd — down 43 sen at RM1.76
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.