KUALA LUMPUR (Mar 6): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon market close today. The list showed one stocks with positive momentum and eight with negative momentum.
Stocks with positive momentum were:
Xin Hwa Holdings Bhd — up four sen at 88 sen
Stocks with negative momentum were:
My EG Services Bhd — up 13 sen at RM1.14
Zelan Bhd — up 0.5 sen at nine sen
WTK Holdings Bhd — up 1.5 sen at 60 sen
Sarawak Cable Bhd — up 4.5 sen at 32 sen
Velesto Energy Bhd — up 1.5 sen at 27.5 sen
PCCS Group Bhd — unchanged at 29.5 sen
BIG Industries Bhd — up five sen at 43.5 sen
Teck Guan Perdana Bhd — up 30 sen at RM1.20
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.