KUALA LUMPUR (Sept 11): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. Three stock had positive momentum while two showed negative momentum.
Stocks with positive momentum were:
Magni-Tech Industries Bhd – up 31 sen at RM5.71
Nova Wellness Group Bhd – up one sen at 55.5 sen
OCK Group Bhd – up 3.5 sen at 64.5 sen
Stocks with negative momentum were:
Master-Pack Group Bhd – up five sen at RM1.47
MNC Wireless Bhd – unchanged at 10 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.