KUALA LUMPUR (Nov 7): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close today. One stock displayed positive momentum while eight had negative momentum.
The stock with positive momentum was :
Prolexus Bhd - up six sen at 96.5 sen
Stocks with negative momentum were:
DGB Asia Bhd - up 0.5 sen at 17 sen
PBA Holdings Bhd -down two sen at RM1.13
Luster Industries Bhd - unchanged at 9.5 sen
Malaysian Bulk Carriers Bhd (Maybulk) - up 0.5 sen at 70 sen
Homeritz Corp Bhd - down 1.5 sen at 70 sen
Carimin Petroleum Bhd - up four sen at RM1.37
FoundPac Group Bhd - up two sen at 50.5 sen
EG Industries Bhd - up 0.5 sen at 48.5 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 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.