KUALA LUMPUR (Oct 22): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon close today. One stock displayed positive momentum while seven had negative momentum.
The stock with positive momentum was :
Mega Sun City Holdings Bhd - up 1.5 sen at 14.5 sen
Stocks with negative momentum were :
Parlo Bhd - up one sen at 9.5 sen
Kejuruteraan Asastera Bhd - down one sen at 62.5 sen
Radiant Globaltech Bhd - up 1.5 sen at 31 sen
Insas Bhd - up 1.5 sen at 85.5 sen
Kumpulan Powernet Bhd - up 16 sen at RM1.16
Minetech Resources Bhd - unchanged at eight sen
Lay Hong Bhd - up 1.5 at 52 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.