Friday 29 Mar 2024
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KUALA LUMPUR (Oct 16): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. Two stocks had positive momentum while five showed negative momentum.

Stocks with positive momentum were:

Muar Ban Lee Group Bhd – up five sen at RM1.21

MESB Bhd – down five sen at RM1.25

Stocks with negative momentum were:

Asia Media Group Bhd – up one sen at 11 sen

DGB Asia Bhd – up one sen at eight sen

Ge-Shen Corp Bhd – up seven sen at RM2.46

Grand-Flo Bhd – up one sen at 25.5 sen

iDimension Consolidated Bhd – up 0.5 sen 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.

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