KUALA LUMPUR (June 23): theedgemarkets.com has highlighted six stocks with momentum at Bursa Malaysia's noon market break. Two stocks displayed positive momentum, with the rest displaying negative momentum.
The stocks with positive momentum were:
Mulpha International Bhd — up nine sen at RM1.86
OCB Bhd — down two sen at 80.5 sen
The stocks with negative momentum were:
Cabnet Holdings Bhd — up three sen at 38.5 sen
K. Seng Seng Corp Bhd — up 18 sen at RM1.45
Sasbadi Holdings Bhd — unchanged at 25.5 sen
FSBM Holdings Bhd — up half a sen at 15.5 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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com