KUALA LUMPUR (April 29): theedgemarkets.com has highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks have positive momentum, while four stocks have negative momentum.
The stocks with positive momentum were:
Sunsuria Bhd — up 16.5 sen to 80 sen
Kumpulan Perangsang Selangor Bhd (KPS) — up 15 sen to RM1.66
The stocks with negative momentum were:
Chemical Company of Malaysia Bhd — up eight sen to RM2.18
Focus Point Holdings Bhd — up 1.5 sen to 41 sen
Rimbunan Sawit Bhd — down 1.5 sen to 26.5 sen
PLS Plantations Bhd — down nine sen to RM1.11
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.