KUALA LUMPUR (July 29): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. Five stocks displayed negative momentum while one showed positive momentum.
The stocks with negative momentum were:
Fibon Bhd — up one sen at 64 sen
Harn Len Corp Bhd — up two sen at 82 sen
PUC Bhd — up one sen at 19 sen
Tanco Holdings Bhd — up three sen at 20 sen
TSR Capital Bhd — up one sen at 34 sen
The stock with positive momentum was:
Kein Hing International Bhd — up 21 sen at RM1.17
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.