KUALA LUMPUR (Sept 19): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed for positive momentum and negative momentum respectively.
Stocks with positive momentum were:
Genetec Technology Bhd –– up 14 sen or 8.38% at RM1.81
Ideal United Bintang International Bhd –– up nine sen or 5.77% at RM1.65
Reach Energy Bhd –– up 3.5 sen or 9.59% at 40 sen
Stocks with negativemomentum were:
Ni Hsin Resources Bhd - up one sen or 4.76% at 22 sen
PIE. Industrial Bhd –– up four sen or 2.76% at RM1.49
Watta Holding Bhd –– up 0.5 sen or 0.8% at 63 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.