KUALA LUMPUR (June 14): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's noon market close today. Two stocks displayed positive momentum while three showed negative momentum.
Stocks with positive momentum were:
Malayan United Industries Bhd — up one sen at 24.5 sen
Leader Steel Holdings Bhd — unchanged at 33.5 sen
Stocks with negative momentum were:
Hume Industries Bhd — down four sen at RM1.54
Southern Steel Bhd — up 3.5 sen at 98.5 sen
Suiwah Corp Bhd — unchanged at RM2.79
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.