KUALA LUMPUR (Aug 30): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close today. Seven stocks displayed negative momentum, while two showed positive momentum.
The stocks with negative momentum were:
Ann Joo Resources Bhd — up 22 sen at RM2.58
Brahim's Holdings Bhd — up three sen at 26 sen
DPI Holdings Bhd — up two sen at 46 sen
IQ Group Holdings Bhd — down two sen at RM1.28
KSL Holdings Bhd — up one sen at 64 sen
Mulpha International Bhd — up five sen at RM2.23
Harrisons Holdings (Malaysia) Bhd — up 46 sen at RM4.70
The stocks with positive momentum were:
CI Holdings Bhd — down 12 sen at RM4.18
Impiana Hotels Bhd — unchanged at 7 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.