KUALA LUMPUR (June 29): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. All five stocks showed negative momentum.
Stocks with negative momentum were:
Genetec Technology Bhd — up RM1.48 or 20.56% at RM8.68
Ireka Corp Bhd — down 2.5 sen or 3.85% at 62.5 sen
TAFI Industries Bhd — up six sen or 6.12% at RM1.04
Tan Chong Motor Holdings Bhd — unchanged at RM1.20
Vertice Bhd — up one sen or 3.39% at 30.5 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.