KUALA LUMPUR (Sept 29): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon market close today. Four stocks showed positive momentum while three had negative momentum.
Stocks with positive momentum were:
Resintech Bhd - unchanged at 49.5 sen
AmFirst Real Estate Investment Trust - up 2.5 sen at 80.5 sen
SKH Consortium Bhd - up one sen at seven sen
Focus Dynamics Group Bhd - up 0.5 sen at seven sen
Stocks with negative momentum were:
Hiap Teck Venture Bhd - up 1.5 sen at 35.5 sen
Malaysia Packaging Industry Bhd (Maypak) - up 0.5 sen at 65 sen
Elsoft Research Bhd - up five sen at RM2.01
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.