KUALA LUMPUR (Oct 4): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close today.
Six stocks displayed negative momentum while one showed positive momentum.
The stocks with negative momentum were:
Binasat Communications Bhd – up three sen at 42 sen
China Ouhua Winery Holdings Ltd – up one sen at eight sen
Menang Corporation (M) Bhd – up three sen at 62 sen
Opcom Holdings Bhd – up 21 sen at RM1.32
Sungei Bagan Rubber Company Malaya Bhd – up 15 sen at RM3.75
Subur Tiasa Holdings Bhd – up 15 sen at RM1.02
The stock with positive momentum was:
Nylex (Malaysia) Bhd – up five sen at RM1.14
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.