KUALA LUMPUR (Nov 20): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia's afternoon break today. Two stocks showed positive momentum while nine stocks indicated negative momentum.
The stocks with positive momentum were:
Formosa Prosonic Industries Bhd – up 22 sen at RM2.07
United U-Li Corp Bhd – up four sen at 59 sen
The stocks with negative momentum were:
Alcom Group Bhd – up 3.5 sen at 63 sen
Amtel Holdings Bhd – up 19 sen at RM1.85
Eita Resources Bhd – up four sen at RM1.80
Malaysian Bulk Carriers Bhd (Maybulk) – up 2.5 sen at 45.5 sen
OCB Bhd – up 4.5 sen at 47.5 sen
OKA Corp Bhd – up 3.5 sen at 65 sen
Pesona Metro Holdings Bhd – down half a sen at 24.5 sen
Solarvest Holdings Bhd – down four sen at RM1.48
TMC Life Sciences Bhd – up three sen at 58.5 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.