KUALA LUMPUR (Aug 2): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. The stock displayed one positive and six negative momentum respectively.
The stocks with positive momentum was:
Zecon Bhd — down 2.5 sen at 32 sen
The stocks with negative momentum were:
CWG Holdings Bhd — up one sen at 50.5 sen
Ideal United Bintang International Bhd — down one sen at RM1.34
Kanger Bhd — up half a sen at 8 sen
Kuchai Development Bhd — up 19 sen at RM2.13
PNE PCB Bhd — up one sen at 54 sen
Toyo Ink Group Bhd — up six 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.