KUALA LUMPUR (Nov 10): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed two with positive momentum and five with negative momentum.
Stocks with positive momentum were:
Pan Malaysia Corp Bhd – up 0.5 sen at 20 sen
Zecon Bhd – up one sen at 75 sen
Stocks with negative momentum were:
Poh Kong Holdings Bhd – up one sen at 68 sen
HLT Global Bhd – up three sen at 62 sen
Malaysia Marine And Heavy Engineering Holdings Bhd – up 0.5 sen at 92.5 sen
Innoprise Plantations Bhd – up three sen at RM1.33
Malayan United Industries Bhd – up two sen at 26.5 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.