KUALA LUMPUR (June 19): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. One with positive momentum and four with negative momentum.
The stock with positive momentum was:
Oceancash Pacific Bhd - up one sen at 67 sen
The stocks with negative momentum were:
Foundpac Group Bhd - down 3 sen at 32 sen
Nova MSC Bhd - up one sen at 14 sen
Pimpinan Ehsan Bhd - up one sen at 78 sen
SCGM Bhd - up 8 sen at RM1.86
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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com