KUALA LUMPUR (Aug 24): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Only one stock displayed positive momentum, while five showed negative momentum.
Stock with positive momentum was:
Computer Forms (Malaysia) Bhd — down two sen at RM1.20
Stocks with negative momentum were:
Batu Kawan Bhd — up seven sen at RM20.90
BP Plastics Holdings Bhd — up nine sen at RM2.23
D’nonce Technology Bhd — down 1.5 sen at 59 sen
TAFI Industries Bhd — down 16 sen at RM2.27
TechBond Group Bhd — down one sen at 56 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.