KUALA LUMPUR (May 29): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon market close today. One had positive momentum while four showed negative momentum.
The stock with positive momentum was :
Muar Ban Lee Group Bhd - up one sen at RM1.38
Stocks with negative momentum were :
SMTrack Bhd - down 0.5 sen at 16 sen
Hume Industries Bhd - up 10.5 sen at 98 sen
Ho Hup Construction Co Bhd - up four sen at 68.5 sen
Advanced Packaging Technology (M) Bhd - down 10 sen at RM1.90
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.