KUALA LUMPUR (Feb 2): theedgemarkets.com highlighted nine stocks with negative momentum at Bursa Malaysia’s afternoon close today.
The stocks with negative momentum were:
Bintulu Port Holdings Bhd — up 16 sen at RM4.20
Chuan Huat Resources Bhd — up 4.5 sen at 46.5 sen
Federal International Holdings Bhd — unchanged at 60 sen
Heng Huat Resources Group Bhd — up 5.5 sen at 53 sen
Iris Corp Bhd — down 3.5 sen at 40 sen
Malayan Flour Mills Bhd — up eight sen at 98 sen
Rhone Ma Holdings Bhd — down 10 sen at 94 sen
SDS Group Bhd — up 1.5 sen at 26 sen
See Hup Consolidated Bhd — up 37 sen at RM1.62
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.