KUALA LUMPUR (June 18): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close today. Two stocks displayed positive momentum while the remaining five stocks displayed negative momentum.
The stocks with positive momentum were:
JcbNext Bhd — down six sen at RM1.63
Kim Hin Joo (Malaysia) Bhd — up two sen at 30 sen
The stocks with negative momentum were:
Edaran Bhd — up 11 sen at RM1.01
Hiap Huat Holdings Bhd — up 2.5 sen at 22 sen
Mestron Holdings Bhd — up five sen at 43.5 sen
Scanwolf Corporation Bhd — up five sen at 41 sen
SEAL Incorporated Bhd — up one sen at 38 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.