KUALA LUMPUR (July 11): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed positive momentum while the other six stocks showed negative momentum.
Stocks with positive momentum were:
Homeritz Corp Bhd - up 0.5 sen or 0.73% at 69 sen
Ikhmas Jaya Group Bhd - up 2 sen or 7.69% at 28 sen
REDtone International Bhd - up 3.5 sen or 9.33% at 41 sen
Stocks with negative momentum were:
Dolomite Corp Bhd - up 5 sen or 28.57% at 22.5 sen
Focus Point Holdings Bhd - up 4.5 1 sen or 9.68% at 51 sen
Pestech International Bhd - up 11 sen or 7.80% at RM1.52
Power Root Bhd - up 10 sen or 5.71% at RM1.85
SWS Capital Bhd - up 2.5 sen or 3.68% at 70.5 sen
Tek Seng Holdings Bhd - unchanged at 27 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.