KUALA LUMPUR (Oct 3): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks displayed positive momentum while five other stocks showed negative momentum.
Stocks with positive momentum were:
Kelington Group Bhd - up 10 sen or 9.62% at RM1.14
Merge Energy Bhd - up 1.5 sen or 3.41% at 45.5 sen
Stocks with negative momentum were:
Aturmaju Resources Bhd - up 1.5 sen or 3.90% at 40 sen
Dancomech Holdings Bhd - up 1.5 sen or 2.70% at 57 sen
Fitters Diversified Bhd - up 0.5 sen or 1.24% at 41 sen
Ranhill Holdings Bhd - up 3 sen or 3.26% at 95 sen
SAM Engineering & Equipment (M) Bhd - up 11 sen or 1.43% at RM7.80
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.