KUALA LUMPUR (Aug 3): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. One stock displayed negative momentum while four showed positive momentum.
The stock with negative momentum was:
iDimension Consolidated Bhd — up 0.5 sen at 9.5 sen
The stocks with positive momentum were:
Globaltec Formation Bhd — unchanged
Greenyield Bhd — down six sen at 32 sen
PJBumi Bhd — up 10 sen at 46 sen
SAM Engineering & Equipment (M) Bhd — up eight sen at RM10.76
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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com