RedTone, Inix, Ideal Jacobs, Boilermech, Olympia Industries, APFT, NCB, Utusan Melayu, Suria Capital, Komarkcorp, Magni-Tech, Oriental Food, Ire-Tex, Boon Koon

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KUALA LUMPUR (Mar 17): theedgemarkets.com has highlighted 14 stocks with momentum at afternoon market close today. One of the stocks shows positive momentum while 13 show negative momentum.

The stock with positive momentum is:

Redtone International Bhd (fundamental: 2.3; valuation: 0.3) up 4.5 sen at 87.5 sen

Stocks with negative momentum are:

Inix Technologies Holdings Bhd (fundamental: 1.85; valuation: 0) up 0.5 sen at 17 sen

Ideal Jacobs (M) Corp Bhd (fundamental: 0.95; valuation: 0) unchanged at 41.5 sen

Boilermech Holdings Bhd (fundamental: 2.3; valuation: 1.5) unchanged at RM1.52

Olympia Industries Bhd (fundamental: 0.2; valuation: 1.2) down 0.5 sen at 14.5 sen

APFT Bhd (fundamental: 0.9; valuation: 0.16) up one sen at 16 sen

NCB Holdings Bhd (fundamental: 1.95; valuation: 1.8) unchanged at RM2.55

Utusan Melayu (M) Bhd (fundamental: 0.2; valuation: 1.2) unchanged at 66 sen

Suria Capital Holdings Bhd (fundamental: 2.3; valuation: 1.8) up two sen at RM2.34

Komarkcorp Bhd (fundamental: 0.2; valuation: 1.2) up two sen at 56 sen

Magni-Tech Industries Bhd (fundamental: 2.8; valuation: 2.4) up 22 sen at RM3.13

Oriental Food Industries Holdings Bhd (fundamental: 2.8; valuation: 2.4) up 15 sen at RM3.78

Ire-Tex Corp Bhd (fundamental: 1.4; valuation: 2.4) unchanged at 39 sen

Boon Koon Group Bhd (fundamental: 0.35; valuation: 1.2) up one sen at 13 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.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for details on a company’s financial dashboard.)