KUALA LUMPUR (Apr 9): theedgemarkets.com has highlighted 12 stocks with momentum at afternoon market close today. Two of the stocks show positive momentum while 10 show negative momentum.
Stocks with positive momentum are:
Netx Holdings Bhd (fundamental: 1.65; valuation: 0.6) up 1 sen at 8.5 sen
Leweko Resources Bhd (fundamental: 0.35; valuation: 1.20) up 1.5 sen at 19 sen
Stocks with negative momentum are:
Hexza Corporation Bhd (fundamental: 1.45; valuation: 2.60) up 2 sen at 86.5 sen
Complete Logistic Services Bhd (fundamental: 1.10; valuation: 2) up 1.5 sen at 88 sen
Minho (M) Bhd (fundamental: 1.25; valuation: 1.40) up 5.5 sen at 97.5 sen
OKA Corporation Bhd (fundamental: 2.40; valuation: 2.40) up 5.5 sen at RM1.04
PJBumi Bhd (fundamental: 1.20; valuation: 0.75) up 3.5 sen at 24.5 sen
Ire-Tex Corporation Bhd (fundamental: 1.40; valuation: 2) up 1.5 sen at 40 sen
SLP Resources Bhd (fundamental: 2.40; valuation: 1.30) up 4 sen at 89 sen
Ireka Corporation Bhd (fundamental: 0.20; valuation: 1.20) up 3 sen at 78 sen
Ho Wah Genting Bhd (fundamental: 0.35; valuation: 0.30) up 0.5 sen at 15.5 sen
Gromutual Bhd (fundamental: 2; valuation: 2.40) up 2 sen at 49.5 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.
(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 on a company’s financial dashboard.)