KUALA LUMPUR (May 23): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close on Monday (May 23). One stock displayed positive momentum, while eight showed negative momentum.
The stock with positive momentum was:
Sapura Energy Bhd — up two sen at nine sen
The stocks with negative momentum were:
Ajiya Bhd — up three sen at RM1.19
CAB Cakaran Corporation Bhd — up two sen at 55 sen
Gas Malaysia Bhd — down nine sen at RM3.01
Global Oriental Bhd — up 4.5 sen at 28 sen
KNM Group Bhd — down half a sen at 19.5 sen
Malaysia Marine and Heavy Engineering Holdings Bhd — up 1.5 sen at 43 sen
MPHB Capital Bhd — down eight sen at RM1.49
Padini Holdings Bhd — up four sen at RM3.49
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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com