KUALA LUMPUR (Feb 3): theedgemarkets.com highlighted six stocks at Bursa Malaysia's afternoon close today. Five stocks indicated negative momentum while only one showed positive momentum.
Stocks with negative momentum were:
Greatech Technology Bhd — rose 70 sen to RM6.40
Heng Huat Resources Group Bhd — rose seven sen to 58.5 sen
Pimpinan Ehsan Bhd — rose half a sen to 93.5 sen
Scicom (MSC) Bhd — rose four sen to RM1.11
Uchi Technologies Bhd — rose 14 sen to RM2.94
Stock with positive momentum was:
Dufu Technology Corp Bhd — rose 21 sen to RM4.01
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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com