KUALA LUMPUR (March 24): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon break today. Three stocks displayed positive momentum, while six stocks indicated negative momentum.
The stocks with positive momentum were:
South Malaysia Industries Bhd — up 4.5 sen at 22.5 sen
OCB Bhd — up three sen at 63 sen
DPS Resources Bhd — up 1.5 sen at 15.5 sen
The stocks with negative momentum were:
Microlink Solutions Bhd — up two sen at RM2.57
MAA Group Bhd — down one sen at 97 sen
Alcom Group Bhd — up 3.5 sen at 76 sen
Eastern & Oriental Bhd (E&O) — down one sen at 54 sen
PCCS Group Bhd — up two sen at 56 sen
Atta Global Group Bhd — up 1.5 sen at 59 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.