KUALA LUMPUR (Aug 1): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon market close today. Two stocks displayed positive momentum while four showed negative momentum.
Stocks with positive momentum were:
Globetronics Technology Bhd – up 11 sen at RM2.61
Nova MSC Bhd – up 1.5 sen at 20 sen
Stocks with negative momentum were:
Amcorp Properties Bhd – up 0.5 sen at 71.5 sen
Ancom Bhd – up 1 sen at 70 sen
Perusahaan Sadur Timah Malaysia Bhd – up 33 sen at RM5.17
RCE Capital Bhd – up 6 sen at RM1.64
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 differentiatesbetween 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 persistsfor 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.