KUALA LUMPUR (Sept 28): theedgemarkets.com highlighted eight stocks at Bursa Malaysia’s afternoon close today. Seven stocks indicated negative momentum while one stock indicated positive momentum
The stocks with negative momentum were:
Scope Industries Bhd — down 0.5 sen at 37.5sen
Damansara Holdings Bhd — up 1.5 sen at 50 sen
Icapital.biz Bhd — up two sen at RM2.22
Encorp Bhd — up 0.5 sen at 55.5 sen
Jade Marvel Group Bhd — up two sen at 55 sen
Computer Forms (M) Bhd — up 4.5 sen at 88 sen
KESM Industries Bhd — up 50 sen at RM13.64
The stock with positive momentum was:
Samchem Holdings Bhd — up five sen at 87.5 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.