KUALA LUMPUR (May 7): theedgemarkets.com has highlighted 12 stocks with momentum at noon market close today. Two stocks showed positive momentum, while 10 stocks indicated negative momentum.
The stocks with positive momentum were:
Focus Lumber Bhd — up three sen at RM1.18
Pineapple Resources Bhd — up 11 sen at 99 sen
The stocks with negative momentum were:
IJM Plantations Bhd — up seven sen at RM1.94
Boustead Plantations Bhd — up 1.5 sen at 64 sen
Astral Asia Bhd — up half a sen at 16 sen
A-Rank Bhd — up 1.5 sen at 80 sen
Eksons Corp Bhd — up two sen at 84 sen
Karyon Industries Bhd — up 1.5 sen at 28.5 sen
LB Aluminium Bhd — up three sen at RM1.26
PCCS Group Bhd — up one sen at 55.5 sen
United U-Li Corp Bhd — down two sen at RM1.46
Widetech (Malaysia) Bhd — up 49 sen at RM2.15
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.