KUALA LUMPUR (June 3): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks displayed positive momentum, while the remaining seven showed negative momentum.
The stocks with positive momentum were:
Ecobuilt Holdings Bhd — up five sen at 28 sen
Kim Hin Joo (Malaysia) Bhd — up 3.5 sen at 30.5 sen
The stocks with negative momentum were:
Choo Bee Metal Industries Bhd — up 22 sen at RM2.42
Leon Fuat Bhd — up 11 sen at RM1.15
MMC Corp Bhd — up 10 sen at RM1.30
Pasdec Holdings Bhd — down five sen at 40 sen
Sand Nisko Capital Bhd — up 8.5 sen at RM1.01
TAS Offshore Bhd — down one sen at 39.5 sen
UMS Neiken Group Bhd — up two sen at RM1.46
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.