KUALA LUMPUR (June 2): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, while the remaining three showed negative momentum.
The stocks with positive momentum were:
Three-A Resources Bhd — up one sen at 88 sen
BP Plastics Holdings Bhd — up four sen at RM1.60
Hong Leong Industries Bhd — up 43 sen at RM10.32
The stocks with negative momentum were:
EP Manufacturing Bhd — unchanged at 51 sen
Kumpulan Jetson Bhd — up 4.5 sen at 49 sen
Revenue Group Bhd — up 10 sen at RM2.02
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.