KUALA LUMPUR (Apr 27): theedgemarkets.com has highlighted eight stocks with momentum at Bursa Malaysia's afternoon market close today. One of the stocks shows positive momentum while seven show negative momentum.
The stock with positive momentum is:
Techfast Holdings Bhd (fundamental: 1.95; valuation: 0.3) down 0.5 sen at 20 sen
Stocks with negative momentum are:
Scan Associates Bhd (fundamental: 0; valuation: 0) down 0.5 sen at 13.5 sen
Muhibbah Engineering Bhd (fundamental: 1.1; valuation: 0.8) up 19 sen at RM2.70
Acoustech Bhd (fundamental: 2.25; valuation: 0.3) up 0.5 sen at 71.5 sen
Cam Resources Bhd (fundamental: 0.8; valuation: 1.7) up 2.5 sen at 42.5 sen
AE Multi Holdings Bhd (fundamental: 0.55; valuation: 0.9) down 1.5 sen at 16.5 sen
Emas Kiara Industries Bhd (fundamental: 1.65; valuation: 0.9) up 1.5 sen at 79 sen
Magna Prima Bhd (fundamental: 0; valuation: 0.3) up one sen at RM1.13
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.)