KUALA LUMPUR (Oct 1): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks displayed positive momentum while six had negative momentum.
Stocks with positive momentum were :
Green Packet Bhd - up three sen at 40.5 sen
Amverton Bhd - unchanged at RM1.10
Stocks with negative momentum were :
OpenSys (M) Bhd - up one at 33.5 sen
K-One Technology Bhd -up one sen at 23 sen
Merge Energy Bhd - up 3.5 sen at 37.5 sen
Reach Energy Bhd - up five sen at 49 sen
Minho (M) Bhd - up 3.5 sen at 64.5 sen
Jaycorp Bhd - unchanged at 94 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.