KUALA LUMPUR (June 9): theedgemarkets.com highlighted 12 stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed all with negative momentum.
Stocks with negative momentum were:
Ideal Jacobs (Malaysia) Corporation Bhd – up 2.5 sen at 35.5 sen
Careplus Group Bhd – up 3 sen at 44 sen
Comfort Gloves Bhd – up 3.5 sen at 82 sen
Nylex (M) Bhd – up 7 sen at RM1.09
Tower Real Estate Investment Trust – up 1 sen at RM1.22
Foundpac Group Bhd – unchanged at 92.5 sen
Ta Win Holdings Bhd – up 3 sen at RM1.14
Atta Global Group Bhd – up 8 sen at RM1.43
Rex Industry Bhd – up 6 sen at RM2.26
Leader Steel Holdings Bhd – up 2 sen at 65 sen
Brem Holding Bhd – 3 sen at 99.5 sen
Resintech Bhd – up 4 sen at 58 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.