KUALA LUMPUR (Jan 9): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia's afternoon close today. The list showed one stock with positive momentum and eight with negative momentum.
The stock with positive momentum was:
Tomei Consolidated Bhd — down 7.5 sen at 52 sen
Stocks with negative momentum were:
AppAsia Bhd — up 3 sen at 23 sen
Dataprep Holdings Bhd — up 2.5 sen at 25 sen
Emico Holdings Bhd — up 1.5 sen at 22 sen
Kumpulan Powernet Bhd — up 12 sen at RM1.64
Kronologi Asia Bhd — up 7.5 sen at 92 sen
LKL International Bhd — up 1 sen at 17 sen
Poh Kong Holdings Bhd — down 6 sen at 64.5 sen
Willowglen MSC Bhd — up 3 sen at 63 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 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.