KUALA LUMPUR (July 23): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia's afternoon close today. Three stocks displayed positive momentum while seven showed negative momentum.
The stocks with positive momentum were:
Hup Seng Industries Bhd — up two sen at RM1
Globaltec Formation Bhd — up 9.5 sen at 77.5 sen
Hwa Tai Industries Bhd — up 20.5 sen at RM1.14
The stocks with negative momentum were:
GUH Holdings Bhd — up 1.5 sen at 50 sen
Seal Inc Bhd — up one sen at 40 sen
Paos Holdings Bhd — up 17 sen at 58 sen
Kia Lim Bhd — up nine sen at 78 sen
ARK Resources Holdings Bhd — up 6.5 sen at 64.5 sen
Scanwolf Corp Bhd — up three sen at 45.5 sen
KYM Holdings Bhd — up 21.5 sen at 70 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.