KUALA LUMPUR (Oct 22): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close on Friday.
Only one stock showed positive momentum, while the remaining stocks displayed negative momentum.
The stock with positive momentum was:
SKB Shutters Corporation Bhd — down three sen to RM2.31
The stocks with negative momentum were:
Country Heights Holdings Bhd — down one sen to RM1.59
Imaspro Corp Bhd — up one sen to RM2.39
InNature Bhd — up one sen to 84 sen
Jaycorp Bhd — up 13 sen to RM1.82
Malaysia Smelting Corp Bhd — up 15 sen to RM2.98
RGT Bhd — up three sen to 59 sen
ViTrox Corp Bhd — down 44 sen to RM19.78
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.