KUALA LUMPUR (Oct 16): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close today.
Three stocks displayed positive momentum while three stocks displayed negative momentum.
The stocks with positive momentum were:
Magni-Tech Industries Bhd - down five sen at RM2.59
Pangsar Bhd - up one sen at 60sen
Techfast Holdings Bhd - up 1.5sen at 39sen
The stocks with negative momentum were:
D&O Green Technologies Bhd - up three sen at 68 sen
i-Stone Group Bhd - up 2.5sen at 25 sen
Superlon Holdings Bhd - up four sen at RM1.02
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.