KUALA LUMPUR (Nov 13): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed two with positive momentum and four with negative momentum.
Stocks with positive momentum were:
Kelington Group Bhd - up 6.5 sen at 75 sen
Samchem Holdings Bhd - up 6.5 sen at RM1.05
Stocks with negative momentum were:
Pan Malaysia Corp Bhd - unchanged at 20.5 sen
Malaysia Steel Works (KL) Bhd (Masteel) - up seven sen at RM1.40
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) - up 3.5 sen at 96.5 sen
Uzma Bhd - up 11 at RM1.56
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.