KUALA LUMPUR (Aug 23): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks showed positive momentum while four had negative momentum.
Stocks with positive momentum were:
Salutica Bhd – up one sen at 58 sen
Sealink International Bhd – up two sen at 33 sen
Stocks with negative momentum were:
Green Packet Bhd – up 4.5 sen at 65 sen
K-Star Sports Ltd – unchanged at 11 sen
Mieco Chipboard Bhd – up two sen at 35.5 sen
Redtone International Bhd – up 1.5 sen at 40 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.