KUALA LUMPUR (Jan 23): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close today. The list showed one stock with positive momentum and five with negative momentum.
The stock with positive momentum was:
Plastrade Technology Bhd — down 0.5 sen at 19.5 sen
Stocks with negative momentum were:
Ho Wah Genting Bhd — up 0.5 sen at 13.5 sen
MClean Technologies Bhd — up 1.5 sen at 24 sen
MTouche Technology Bhd — unchanged at 17.5 sen
Public Packages Holdings Bhd — up 3 sen at RM1.31
TAS Offshore Bhd — up 1.5 sen at 39 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.