KUALA LUMPUR (July 2): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon market close today. Three stocks showed positive momentum while the remaining three had negative momentum.
Stocks with positive momentum were :
SMTRACK Bhd - up 0.5 sen at 22 sen
RHB Bank Bhd - unchanged at RM5.78
Ikhmas Jaya Group Bhd - up 0.5 sen at 23.5 sen
Stocks with negative momentum were :
Green Packet Bhd - up two sen at 38 sen
Wegmans Holdings Bhd - down 0.5 sen at 33.5 sen
Master-Pack Group Bhd - down four sen at RM1.20
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.