KUALA LUMPUR (Oct 7): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed two with positive momentum and three with negative momentum.
Stocks with positive momentum were:
Globetronics Technology Bhd – up two sen to RM2.1
Prolexus Bhd – up three sen to 89 sen
Stocks with negative momentum were:
Elsoft Research Bhd – up four sen to RM1.03
MMAG Holdings Bhd – up two sen to 36.5 sen
Nova Wellness Group Bhd – up 2.5 sen to 61.5 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.