KUALA LUMPUR (Nov 13): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed positive momentum while three had negative momentum.
The stocks with positive momentum were:
Guan Chong Bhd - down 7 sen at RM2.73
Permaju Industries Bhd - up 0.5 sen at 37 sen
Asia Knight Bhd - up 1.5 sen at 20.5 sen
The stocks with negative momentum were:
Brite-Tech Bhd - unchanged at 26.5 sen
Merge Energy Bhd - down 3 sen at 84.5 sen
Grand Hoover Bhd - up 2.5 sen at 68.5 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.