KUALA LUMPUR (April 16): theedgemarkets.com has highlighted 12 stocks with momentum at afternoon market close today. Two of the stocks show positive momentum while 10 show negative momentum.
Stocks with positive momentum are:
Frontken Corp Bhd (fundamental: 1.8; valuation: 0.5) up 0.5 sen at 25 sen
Power Root Bhd (fundamental: 2.1; valuation: 1.5) down five sen at RM1.84
Stocks with negative momentum are:
AT Systematization Bhd (fundamental: 2.1; valuation: 0.3) up 0.5 sen at 13 sen
Connectcounty Holdings Bhd (fundamental: 0.95; valuation: 0) up 0.5 sen at 20.5 sen
DGB Asia Bhd (fundamental: 1.65; valuation: 0) up one sen at 14.5 sen
Guinness Anchor Bhd (fundamental: 1.7; valuation: 1.5) unchanged at RM14.90
Pharmaniaga Bhd (fundamental: 0.95; valuation: 1.7) up 14 sen at RM6.34
Ablegroup Bhd (fundamental: 0.8; valuation: 0.3) up one sen at 19.5 sen
Century Logistics Holdings Bhd (fundamental: 2.3; valuation: 2.4) up 2.5 sen at 84 sen
Degem Bhd (fundamental: 2.1; valuation: 2.4) up five sen at 95 sen
SLP Resources Bhd (fundamental: 2.4; valuation: 1.3 ) up seven sen at RM1.01
Public Packages Holdings Bhd (fundamental: 1.4; valuation: 2.1) up 1.5 sen at 83.5 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.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go towww.theedgemarkets.com for details on a company’s financial dashboard.)