KUALA LUMPUR (April 30): theedgemarkets.com highlighted 12 stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, while nine showed negative momentum.
The stocks with positive momentum were:
ATTA Global Group Bhd — up nine sen at 60 sen
Golden Pharos Bhd — up six sen at 41 sen
Nylex (M) Bhd — up 1.5 sen at 92 sen
The stocks with negative momentum were:
Chuan Huat Resources Bhd — up 14 sen at 62.5 sen
Fibon Bhd — up 1.5 sen at 45.5 sen
Leon Fuat Bhd — up six sen at RM1.01
PA Resources Bhd — up 2.5 sen at 55 sen
Selangor Dredging Bhd — up 8.5 sen at 76.5 sen
Tashin Holdings Bhd — up 11 sen at 77 sen
Turbo-Mech Bhd — up 2.5 sen at 83 sen
Watta Holding Bhd — up nine sen at 72.5 sen
YLI Holdings Bhd — up four sen at 43.5 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.