KUALA LUMPUR (March 7): theedgemarkets.com highlighted 14 stocks with momentum at Bursa Malaysia's afternoon market close today. One stock displayed positive momentum while 13 showed negative momentum.
The stock with positive momentum was:
Prestariang Bhd — up 12 sen at 56 sen
Stocks with negative momentum were:
Aturmaju Resources Bhd — down 1.5 sen at 44 sen
Datasonic Group Bhd — up 2.5 sen at 51.5 sen
Hume Industries Bhd — up 16.5 sen at 90 sen
Latitude Tree Holdings Bhd — up 5 sen at RM4.08
Nova Pharma Solutions Bhd — up 3 sen at 28 sen
Public Packages Holdings Bhd — up 1.5 sen at 58 sen
Rex Industry Bhd — unchanged at 42 sen
Sawarak Cable Bhd — down 1.5 sen at 35.5 sen
Scomi Energy Services Bhd — up 0.5 sen at 6 sen
Seremban Engineering Bhd — up six sen at 43 sen
Success Transformer Corp Bhd — up 1 sen at 73 sen
Teck Guan Perdana Bhd — up 17 sen at RM1.37
Vsolar Group Bhd — up 1.5 sen at 21 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.