KUALA LUMPUR (Oct 18): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon close today. Two stocks displayed positive momentum while five showed negative momentum.
Stocks with positive momentum were:
Wah Seong Corp Bhd - up three sen at RM1
Seremban Engineering Bhd - up one sen at 72 sen
Stocks with negative momentum were:
Mega Sun City Holdings Bhd - up 1.5 sen at 12 sen
MMS Ventures Bhd - up one sen at 86.5 sen
Widad Group Bhd - up 0.5 sen at 36 sen
Globetronics Technology Bhd - up 13 sen at RM2.25
Sernkou Resources Bhd - up 1.5 sen at 84.5 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.