KUALA LUMPUR (Oct 30): theedgemarkets.com highlighted 12 stocks at Bursa Malaysia's afternoon market close today.
One stock showed positive momentum while 11 showed negative momentum.
The stock with positive momentum is:
Weida (M) Bhd — up eight sen at RM1.76
Stocks with negative momentum are:
Johore Tin Bhd — up nine sen at RM2.20
Ideal Jacobs (M) Corp Bhd — up one sen at 19.5 sen
Tiong Nam Logistics Holdings Bhd — up four sen at RM1.44
Symphony House Bhd — up one sen at 20.5 sen
United U-Li Corp Bhd — up eight sen at RM4.43
EG Industries Bhd — up 5.5 sen at 79.5 sen
Stone Master Corp Bhd — down 0.5 sen at 28.5 sen
Asia File Corp Bhd — up 26 sen at RM4.36
Eupe Corp Bhd — up 0.5 sen at 85.5 sen
Kejuruteraan Samudra Timur Bhd — up three sen at 59 sen
Gadang Holdings Bhd — up six sen at RM1.63
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.
(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)