KUALA LUMPUR (Aug 23): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks displayed positive momentum, while five showed negative momentum.
Stocks with positive momentum were:
Harn Len Corp Bhd — up five sen at RM1.23
Scope Industries Bhd — up 3.5 sen at 36.5 sen
Stocks with negative momentum were:
BP Plastics Holding Bhd — up 24 sen at RM2.14
Favelle Favco Bhd — unchanged at RM2.20
Microlink Solutions Bhd — down one sen at 65 sen
TAFI Industries Bhd — up 18 sen at RM2.45
Tiong Nam Logistics Holdings Bhd — up 1.5 sen at 89 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.