KUALA LUMPUR (July 24): theedgemarkets.com highlighted eleven stocks with momentum, with three stocks having a positive momentum, and eight stocks with negative momentum at Bursa Malaysia’s afternoon market close today.
The stocks with positive momentum were:
Gas Malaysia Bhd - unchanged at RM2.95
Salutica Bhd - up 2 sen to 58
Country Heights Holdings Bhd - up 6 sen at RM1.56
The stocks with negative momentum were:
Johore Tin Bhd - up three sen at RM1.06
Asian Pac Holdings bhd - up 0.5 sen at 16 sen
Vitrox Corp Bhd - up 55 sen at RM6.34,
Econpile Holdings Bhd - up 4 sen at 91 sen
Alam Maritim Resources Bhd - up 0.5 sen at 15 sen
Signature International Bhd - up one sen at 58 sen
IQ Group Holdings Bhd - up 12 sen at RM1.50
Elsoft Research Bhd - up 3 sen at RM2.73
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.