KUALA LUMPUR (Jan 11): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks displayed positive momentum while four showed negative momentum.
Stocks with positive momentum were:
Scope Industries Bhd - unchanged at 14.5 sen
Khee San Bhd - unchanged at 60 sen
Teo Seng Capital Bhd - up 2 sen to RM1.03
Stocks with negative momentum were:
GFM Services Bhd - up 1.5 sen to 50 sen
Pecca Group Bhd - up 3.5 sen to 82 sen
Bina Puri Holdings Bhd - unchanged at 26 sen
Johore Tin Bhd - up 4 sen to RM1.18
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.