KUALA LUMPUR (Sept 1): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon close on Thursday (Sept 1). Among them, three stocks displayed positive momentum while four indicated negative momentum.
The stocks with positive momentum were:
- Kim Teck Cheong Consolidated Bhd — down 0.5 sen at 15 sen
- Icon Offshore Bhd — unchanged at 11 sen
- Pasdec Holdings Bhd — unchanged at 38 sen
The stocks with negative momentum were:
- SDS Group Bhd — up 2.5 sen at 55 sen
- Meta Bright Group Bhd — up 0.5 sen at 8.5 sen
- Shin Yang Shipping Corp Bhd — up 4.5 sen at 56.5 sen
- Perusahaan Sadur Timah Malaysia (Perstima) Bhd — up 25 sen at RM4.15
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