KUALA LUMPUR (Sept 29): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, eight showed negative momentum.
Stocks with positive momentum were:
Poh Huat Resources Holdings Bhd - up 14 sen at RM1.64
SCGM Bhd - down 26 sen at RM3.33
Wong Engineering Corp Bhd - down two sen at 84 sen
Stocks with negative momentum were:
Aemulus Holdings Bhd - up one sen at 68 sen
Alcom Group Bhd - up half a sen at 46 sen
FCW Holdings Bhd - up seven sen at 97 sen
Kein Hing International Bhd - down two sen at 48 sen
Khind Holdings Bhd - up 25 sen at RM2.28
Kim Loong Resources Bhd - up three sen at RM1.42
Smtrack Bhd - down 2.5 sen at 35 sen
Yoong Onn Corp Bhd - up 3.5 sen at 74 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.