KUALA LUMPUR (July 24): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed positive momentum while six showed negative momentum.
Stocks with positive momentum were:
MNC Wireless Bhd - unchanged at 6.5 sen
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) - up seven sen at 94 sen
PNE PCB Bhd - unchanged at 55 sen
Stocks with negative momentum were:
Grand-Flo Bhd - down 0.5 sen at 26.5 sen
Hiap Huat Holdings Bhd - up one sen at 14 sen
DRB-Hicom Bhd - up 11 sen at RM2.61
Genting Malaysia Bhd - up 19 sen at RM3.64
Velesto Energy Bhd - up one sen at 32.5 sen
SWS Capital Bhd - up two sen at 72 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.