KUALA LUMPUR (Oct 9): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks had positive momentum while seven showed negative momentum.
Stocks with positive momentum were:
Hubline Bhd – up 2.5 sen at 14 sen
Palette Multimedia Bhd – up 4 sen at 40 sen
Stocks with negative momentum were:
Asia Bioenergy Technologies Bhd – up 1.5 sen at 17.5 sen
Dutaland Bhd – unchanged at 66 sen
Formosa Prosonic Industries Bhd – up 7 sen at RM1.39
G3 Global Bhd – up 7.5 sen at 83 sen
Goh Ban Huat (GBH) - down 1 sen at RM1.42
Iris Corp Bhd – unchanged at 18.5 sen
Wong Engineering Corp Bhd – up 6 sen at RM1.01
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.