KUALA LUMPUR (May 2): theedgemarkets.com highlighted three stocks with momentum at Bursa Malaysia’s afternoon market close today, one with negative momentum and two with positive momentum.
The stocks with positive momentum were:
Lee Swee Kiat Group Bhd - down one sen at 75 sen
PMB Technology Bhd - down 3 sen at RM2.45
The stock with negative momentum was:
Asdion Bhd - up one sen at 47 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.