KUALA LUMPUR (May 7): theedgemarkets.com has highlighted six stocks with momentum at Bursa Malaysia's afternoon market close today. Four of the stocks show positive momentum while two show negative momentum.
Stocks with positive momentum are:
ConnectCounty Holdings Bhd (fundamental: 0.95; valuation: 0) up 0.5 sen at 22.5 sen
Perwaja Holdigns Bhd (fundamental: 0; valuation: 0) up 1.5 sen at 22.5 sen
IHH Healthcare Bhd (fundamental: 1.65; valuation: 0.5) down one sen at RM5.98
K&N Kenanga Holdings Bhd (fundamental: 1.8; valuation: 1.65) up 0.5 sen at 72.5 sen
Stocks with negative momentum are:
C.I. Holdings Bhd (fundamental: 1.85; valuation: 0.2) up three sen at RM2.38
Majuperak Holdings Bhd (fundamental: 1.85; valuation: 0.9) up three sen at 42.5 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.
(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.)