KUALA LUMPUR (March 21): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Five stocks had positive momentum, while one stock had negative momentum.
The stocks with positive momentum were:-
Selangor Dredging Bhd – down 4.5 sen to 68.5 sen
UEM Sunrise Bhd – up two sen to 87 sen
Bina Darulaman Bhd –down 2.5 sen to 46.5 sen
Jaycorp Bhd – down four sen to 96 sen
Crest Builder Holdings Bhd – up two sen to RM1.17
The stock with negative momentum was:-
Hock Heng Stone Industries Bhd – up 3.5 sen to 62.5 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.