KUALA LUMPUR (March 20): theedgemarkets.com highlighted eight stocks with negative momentum at Bursa Malaysia's afternoon market close today.
The stocks with negative momentum were:
Scope Industries Bhd - up 0.5 sen at 23 sen
Kian Joo Can Factory Bhd - unchanged at RM3.10
South Malaysia Industries Bhd - up two sen at 20 sen
HB Global Ltd - unchanged at 12.5 sen
Bina Darulaman Bhd - up 12.5 sen at 52.5 sen
Jaycorp Bhd - up six sen at 96.5 sen
Public Packages Holdings Bhd - up three sen at 63.5 sen
Federal International Holdings Bhd - up one sen at 50 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.