KUALA LUMPUR (Nov 15): theedgemarkets.com highlighted nine stocks at Bursa Malaysia’s afternoon market close today. The list showed three stocks with positive momentum and six with negative momentum.
Stocks with positive momentum were:
MLabs Systems Bhd — up 2.5 sen at seven sen
BTM Resources Bhd — unchanged at 19.5 sen
RCE Capital Bhd — up three sen at RM1.76
Stocks with negative momentum were:
TechFast Holdings Bhd — up 2.5 sen at 47.5 sen
Solution Group Bhd — up 0.5 sen at 10.5 sen
MClean Technologies Bhd — up three sen at 21.5 sen
Global Oriental Bhd — up 0.5 sen at 21 sen
Chin Hin Group Bhd — up five sen at 90 sen
Minetech Resources Bhd — unchanged at nine 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.