KUALA LUMPUR (April 22): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. Four stocks displayed positive momentum while one showed negative momentum.
Stocks with positive momentum were:
Federal International Holdings Bhd – fell one sen at 46.5 sen
Ho Wah Genting Bhd– up half a sen at 21 sen
Rubberex Corp (M) Bhd – up four sen at RM1.27
Solid Automotive Bhd – fell half a sen at 30.5 sen
Stock with negative momentum was:
Minetech Resources Bhd – unchanged at 27 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.