KUALA LUMPUR (Jan 3): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed one with positive momentum and six with negative momentum.
The stock with positive momentum was:
Samchem Holdings Bhd — up 4 sen at RM1.09
Stocks with negative momentum were:
AppAsia Bhd — up 1 sen at 39 sen
CCM Duopharma Biotech Bhd — unchanged at RM2.62
DGB Asia Bhd — up 3 sen at 21 sen
DRB-Hicom Bhd — up 20 sen at RM2.46
FACB Industries Inc Bhd — up 2 sen at RM1.53
Malaysian Resources Corp Bhd (MRCB)— up 7 sen at RM1.23
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.