KUALA LUMPUR (Sept 7): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia’s afternoon close today. Ten stocks displayed negative momentum, while one displayed positive momentum.
The stocks with negative momentum were:
Fibon Bhd — up 1.5 sen at 54.5 sen
Mulpha International Bhd — up one sen at RM2.48
Fiamma Holdings Bhd — unchanged at 68 sen
Kumpulan H & L High-Tech Bhd — up 24 sen at RM2.22
Khind Holdings Bhd — up 31 sen at RM5.16
BSL Corp Bhd — down eight sen at RM1.49
Tomypak Holdings Bhd — up two sen at 59.5 sen
Ajiya Bhd — up 2.5 sen at 66 sen
Pintaras Jaya Bhd — up 15 sen at RM2.87
WCT Holdings Bhd — up 2.5 sen at 58.5 sen
The stock with positive momentum was:
KNM Group Bhd — up two sen at 31 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.