KUALA LUMPUR (June 24): theedgemarkets.com has highlighted seven stocks with momentum at afternoon market close today. Two of the stocks show positive momentum while five show negative momentum.
Stocks with positive momentum are:
Integrated Rubber Corp Bhd (fundamental: 2.1; valuation: 0) down 2.5 sen to 90.5 sen.
HeiTech Padu Bhd (fundamental: 0.35; valuation: 0.9) up 2 sen to 73 sen.
Stocks with negative momentum are:
Hup Seng Industries Bhd (fundamental: 3; valuation: 2.1) up 6 sen to RM1.21.
Kim Hin Industry Bhd (fundamental: 2.5; valuation: 2.6) up 2 sen to RM1.86.
Box-Pak (M) Bhd (fundamental: 0.6; valuation: 1.7) down 2 sen to RM2.42.
Magni-Tech Industries Bhd (fundamental: 2.8; valuation: 2.4) up 20 sen to RM3.80.
Jerasia Capital Bhd (fundamental: 0.8; valuation: 1.7) up 7 sen to 84 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.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)