KUALA LUMPUR (May 20): theedgemarkets.com has highlighted seven stocks with momentum at Bursa Malaysia’s noon market close. Two stocks displayed positive momentum, while five stocks showed negative momentum.
The stocks with positive momentum were:
Eastern & Oriental Bhd (E&O) — up 10 sen or 16.53% at 70.5 sen
Sand Nisko Capital Bhd — up eight sen or 11.03% at 80.5 sen
The stocks with negative momentum were:
Adventa Bhd — up six sen or 2.39% at RM2.57
British American Tobacco (M) Bhd (BAT) — up 96 sen or 6.36% at RM16.06
Enest Group Bhd — unchanged at 14 sen
Tomei Consolidated Bhd — up 12 sen or 9.6% at RM1.37
Widetech (M) Bhd — up 56 sen or 17.95% at RM3.68
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.