KUALA LUMPUR (July 8): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon close today. One stock displayed positive momentum, while seven showed negative momentum.
The stock with positive momentum was:
Pineapple Resources Bhd — up 19 sen at RM1.28
The stocks with negative momentum were:
Innity Corp Bhd — up 2.5 sen at 81.5 sen
Kobay Technology Bhd — up three sen at RM3.45
Y&G Corp Bhd — up 33 sen at RM1.61
Kumpulan H & L High-Tech Bhd (Hightec) — up 50 sen at RM4.21
SMIS Corp Bhd — up six sen at 82 sen
Pelangi Publishing Group Bhd — up six sen at 42.5 sen
Widetech (Malaysia) Bhd — up 60 sen at RM4.28
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