KUALA LUMPUR (Nov 16): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. All of the stocks showed negative momentum.
Stock with negative momentum were:
Formosa Prosonic Industries Bhd - up to 16 sen at RM1.77
K-One Technology Bhd - up to 1 sen at 34 sen
Permaju Industries Bhd - up 0.5 sen at 40.5 sen
Sanbumi Holdings Bhd - down to 0.5 sen at 35.5 sen
Unisem (M) Bhd - up 12 sen at RM3.20
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.