KUALA LUMPUR (May 7): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks had positive momentum, while four stocks had negative momentum.
The stocks with positive momentum were:
MQ Technology Bhd – unchanged at four sen
Oriental Food Industries Bhd –down half a sen to 86.5 sen
The stocks with negative momentum were:
G Neptune Bhd – up a sen to 8.5 sen
Lafarge Malaysia Bhd – up a sen to RM3.73
United U-Li Corp Bhd – down three sen to 74.5 sen
Sarawak Consolidated Industries Bhd – unchanged at 60.5 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 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.