KUALA LUMPUR (July 23): theedgemarkets.com highlighted seven stocks with momentum, with one stock having a positive momentum, and six stocks with negative momentum at Bursa Malaysia’s afternoon market close today.
The stock with positive momentum was:
Kumpulan Perangsang Selangor Bhd - up five sen or at RM2.03.
The stocks with negative momentum were:
Evergreen Fibreboard Bhd - up three sen or 5.77% at 55 sen
Tambun Indah Land - up two sen or 2.04% at RM1,
SYF Resources Bhd - up one sen or 3.17% at 32.5 sen,
Poh Huat Resources Holdings Bhd - up 8 sen or 5.67% at RM1.79
Ewein Bhd - up 4.5 sen or 5.56% at 85.5 sen
Thriven Global Bhd - up two sen or 4.82% at 43.5 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.