KUALA LUMPUR (Aug 29): theedgemarkets.com highlighted three stocks with momentum at Bursa Malaysia’s noon break today. One stock had positive momentum, while two stocks had negative momentum.
The stock with positive momentum was:
SMTrack Bhd – up half a sen to 23 sen
The stocks with negative momentum were:
Malaysian Bulk Carriers Bhd – up half a sen to 59.5 sen
Ideal United Bintang International Bhd – up seven sen to RM1.46
he 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.