KUALA LUMPUR (June 17): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon market close today. One stock displayed positive momentum while four showed negative momentum.
The stock with positive momentum was :
SMTRACK Bhd - up 1.5 sen at 19 sen
Stocks with negative momentum were :
Hume Industries Bhd - down 10 sen at RM1.34
JMR Conglomeration Bhd - up three sen at RM1.14
Kumpulan Powernet Bhd - up 0.5 sen at 83 sen
Jaycorp Bhd - up 5 sen at RM1.08
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.