KUALA LUMPUR (July 28): theedgemarkets.com highlighted 10 stocks at Bursa Malaysia’s afternoon close today. One stock showed positive momentum while nine indicated negative momentum.
Stock with positive momentum was:
ManagePay Systems Bhd - up four sen at 14 sen
Stocks with negative momentum were:
Asdion Bhd - up one sen at 13.5 sen
Dolphin International Bhd - up 1.5 sen at 12.5 sen
HLT Global Bhd - up 12.5 sen at RM1.07
Kumpulan Jetson Bhd - up four sen at 22.5 sen
Johan Holdings Bhd - up half a sen at nine sen
Niche Capital Emas Holdings Bhd - up 1.5 sen at 9.5 sen
Oversea Enterprise Bhd - up four sen at 33.5 sen
Poh Kong Holdings Bhd - up 17 sen at 83.5 sen
Tomei Consolidated Bhd - up 20.5 sen at 89 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.