KUALA LUMPUR (April 8): theedgemarkets.com has highlighted 14 stocks with momentum at afternoon market close today. Three of the stocks show positive momentum while 11 show negative momentum.
Stocks with positive momentum are:
Ho Hup Construction Company Bhd (fundamental: 1.7; valuation: 1.5) up 7 sen to RM1.46.
YFG Bhd (fundamental: 0.15; valuation: 0.3) unchanged at 11.5 sen.
Fututech Bhd (fundamental: 3; valuation: 1.8) up 1 sen to RM1.65.
Stocks with negative momentum are:
Excel Force MSC Bhd (fundamental: 2.4; valuation: 2.1) up 2.5 sen to 63.5 sen.
Jaks Resources Bhd (fundamental: 0.65; valuation: 1.8) up 2.5 sen to 61 sen.
HeiTech Padu Bhd (fundamental: 0.35; valuation: 1.2) up 2.5 sen to 60 sen.
Luxchem Corp Bhd (fundamental: 1.7; valuation: 2.4) up 4 sen to RM1.17.
Kobay Technology Bhd (fundamental: 2.5; valuation: 2.6) up 7 sen to RM1.07.
Oriental Food Industries Holdings Bhd (fundamental: 2.8; valuation: 1.4) up 16 sen to RM4.82.
Ire-Tex Corp Bhd (fundamental: 1.4; valuation: 2) up 3.5 sen to 42.5 sen.
Hovid Bhd (fundamental: 2.1; valuation: 0.5) up 2 sen to 46.5 sen.
Dufu Technology Corp. Bhd (fundamental: 1.4; valuation: 1.2) up 1.5 sen to 40.5 sen.
Mercury Industries Bhd (fundamental: 2.05; valuation: 1.8) up 3 sen to RM1.53.
Gromutual Bhd (fundamental: 2; valuation: 2.4) up 0.5 sen to 47 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 to www.theedgemarkets.com for details)