KUALA LUMPUR (March 22): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks had positive momentum, while two stocks had negative momentum.
The stocks with positive momentum were:
VSolar Group Bhd – up a sen to 24 sen
YGL Convergence Bhd – up a sen to 12.5 sen
Hibiscus Petroleum Bhd – up six sen to RM1.12
The stocks with negative momentum were
Lambo Group Bhd – up half a sen to 16 sen
Progressive Impact Corporation Bhd – up 1.5 sen to 14.5 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.