KUALA LUMPUR (March 5): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed positive momentum while another three showed negative momentum.
Stocks with positive momentum were:
Kobay Technology Bhd - down 1 sen at RM1.36
Lee Swee Kiat Group Bhd - down 3 sen at 62 sen
Ornapaper Bhd - up 15 sen at RM1.64
Stocks with negative momentum were:
Asdion Bhd - up 4.5 sen at 21 sen
Muda Holdings Bhd - up 11 sen at RM2.14
Pineapple Resources Bhd - up 4 sen at 48 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.