KUALA LUMPUR (April 9): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia's noon market close today. Two stocks displayed positive momentum while nine stocks showed negative momentum.
The stocks with positive momentum were:
Hock Heng Stone Industries Bhd – down 4.5 sen to 75 sen
Mudajaya Group Bhd – up 0.5 sen to 37 sen
The stocks with negative momentum were:
Advancecon Holdings Bhd – up 2.5 sen to 47 sen
Alam Maritim Resources Bhd – up 0.5 sen to 14 sen
Ann Joo Resources Bhd – up seven sen to RM1.83
Can-One Bhd – up 14 sen to RM3.24
Gadang Holdings Bhd – up 0.5 sen to 73 sen
Hss Engineers Bhd – up two sen to RM1.25
Malaysia Steel Works (Kl) Bhd – up 2.5 sen to 55 sen
Malaysia Smelting Corporation Bhd – up 1.5 sen to RM1.00
Olympia Industries Bhd – up one sen to 12.5 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.