KUALA LUMPUR (June 4): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks displayed positive momentum, while the remaining six showed negative momentum.
The stocks with positive momentum were:
IJM Plantations Bhd — up nine sen at RM2.21
Sersol Bhd — up three sen at 31.5 sen
The stocks with negative momentum were:
Cabnet Holdings Bhd — up one sen at 29.5 sen
Computer Forms Malaysia Bhd — up 42 sen at RM4.06
EP Manufacturing Bhd — up five sen at 57 sen
Eversafe Rubber Bhd — up 3.5 sen at 34 sen
Manulife Holdings Bhd — up four sen at RM2.36
SKB Shutters Corp Bhd — up 12 sen at RM1.40
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.