KUALA LUMPUR (April 12): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon market close today. One stock had positive momentum while the rest displayed negative momentum.
The stock with positive momentum was:
Sasbadi Holdings Bhd - up 1.5 sen at 24.5 sen
Stocks with negative momentum were:
GFM Services Bhd - up 2 sen at 55 sen
SC Estate Builder Bhd - up 1 sen at 4 sen
Sedania Innovator Bhd - up 9 sen at 25.5 sen
QES Group Bhd - up 0.5 sen at 25 sen
NWP Holdings Bhd - up 3 sen at 11.5 sen
CNI Holdings Bhd - unchanged at 7.5 sen
Prestar Resources Bhd - up 3 sen at 72.5 sen
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.