KUALA LUMPUR (July 7): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close today. Three stocks displayed positive momentum, while three showed negative momentum.
The stocks with positive momentum were:
M3 Technologies (Asia) Bhd — up half a sen at eight sen
Pelikan International Corp Bhd — up 1.5 sen at 37.5 sen
Enra Group Bhd — up three sen at 91 sen
The stocks with negative momentum were:
Y&G Corp Bhd — up 25.5 sen at RM1.24
Kumpulan H & L High-Tech Bhd — up 30 sen at RM3.53
FSBM Holdings Bhd — up 1.5 sen at 25 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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com