KUALA LUMPUR (Aug 16): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon market close today. One stock displayed positive momentum while seven showed negative momentum.
The stock with positive momentum was:
Luster Industries Bhd – up 0.5 sen at 11.5 sen
Stocks with negative momentum were:
Elsoft Research Bhd – up 13 sen at RM3.09
Focus Lumber Bhd – up 5 sen at RM1.35
Guan Chong Bhd – up 10 sen at RM2.27
JF Technology Bhd – up 16 sen at 93 sen
KIP REIT – up 0.5 sen at 86.5 sen
MK Land Holdings Bhd – up 2 sen at 26.5 sen
Malayan United Industries Bhd – up 1.5 sen at 21 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.