KUALA LUMPUR (May 31): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's noon market close today. Two stocks displayed positive momentum while four others showed negative momentum.
The stocks with positive momentum were:
Gas Malaysia Bhd – unchanged at RM2.87
PCCS Group Bhd – up four sen at 48.5 sen
The stocks with negative momentum were:
Bonia Corp Bhd — unchanged at 30 sen
Can-One Bhd – up 9 sen at RM3.46
Kumpulan Powernet Bhd — up 3 sen at 75 sen
Malayan United Industries Bhd — up 2.5 sen at 22 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.