KUALA LUMPUR (Oct 24): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. Three stocks displayed positive momentum while two had negative momentum.
Stocks with positive momentum were:
Sedania Innovator Bhd - up 2.5 sen at 19.5 sen
Xian Leng Holdings Bhd - up 2.5 sen at 55.5 sen
EG Industries Bhd - up 1.5 sen at 46 sen
Stocks with negative momentum were:
Widad Group Bhd - up 0.5 sen at 39.5 sen
Minetech Resources Bhd - up one sen at 8.5 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 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.