KUALA LUMPUR (Oct 21): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. One stocks displayed positive momentum while four stocks displayed negative momentum.
The stock with positive momentum was:
Sanichi Technology Bhd - unchanged at five sen
The stock with negative momentum were:
Guan Chong Bhd - unchanged at 17.5sen
Mega Sun City Holdings Bhd - up one sen at 13 sen
Minetec Resources Bhd - up half a sen at 7.5sen
Sernkou Resources Bhd - up four sen at 89sen
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.