KUALA LUMPUR (June 21): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon market close today. Two stock displayed positive momentum while six showed negative momentum.
The stocks with positive momentum were :
Magni-Tech Industries Bhd – up 1.5 sen to RM5.05
Yinson Holdings Bhd – up 28 sen to RM6.09
The stocks with negative momentum were :
Revenue Group Bhd – up seven sen to RM1.37
Paramount Corp Bhd – up five sen to RM2.23
MMC Corp Bhd – up one sen to RM1.16
Poh Kong Holdings Bhd – down half a sen to 50 sen,
Pecca Group Bhd – up three sen to RM1.11
Kumpulan Powernet Bhd – up one sen to 93 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.