KUALA LUMPUR (Jan 29): theedgemarkets.com highlighted 10 stocks at Bursa Malaysia's afternoon close today. Seven stocks indicated negative momentum while three stocks showed positive momentum.
Stocks with negative momentum were:
Cheetah Holdings Bhd — up 3.5 sen at 93.5 sen
Eng Kah Corp Bhd — up three sen at RM2.43
Genetec Technology Bhd — up 26 sen at RM2.89
PA Resources Bhd — up two sen at 22 sen
Pineapple Resources Bhd — up two sen at 67.5 sen
QES Group Bhd — up 1.5 sen at 42 sen
Tasco Bhd — unchanged at RM4.06
Stocks with positive momentum were:
Lien Hoe Corp Bhd — up four sen at 36 sen
Milux Corp Bhd — down seven sen at RM2.83
Sarawak Consolidated Industries Bhd (SCIB) — down 21 sen at RM2.78
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