KUALA LUMPUR (March 17): 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.
The stocks with positive momentum are:
Leon Fuat Bhd – up 2 sen at 48.5 sen
Len Cheong Holding Bhd – up 1 sen at 35 sen
The stocks with negative momentum are:
Eurospan Holdings Bhd – down 3 sen at 77 sen
M3 Technologies (Asia) Bhd – up 0.5 sen at 15.5 sen
Scientex Bhd – up 28 sen at RM11.52
Hock Seng Lee Bhd – up 9 sen at RM2.09
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 momentumgenerally 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.