KUALA LUMPUR (April 18): theedgemarkets.com highlighted four stocks with momentum at Bursa Malaysia's afternoon market close today. Three stocks had positive momentum while one other displayed negative momentum.
The stocks with positive momentum were:
NWP Holdings Bhd -- down 0.5 sen at 12.5 sen
Omesti Bhd -- unchanged at 40.5 sen
Redtone International Bhd -- up 1 sen at 33.5 sen
The stock with negative momentum was:
Supercomnet Technologies Bhd -- up 3 sen at 86.5 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.