KUALA LUMPUR (July 22): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia’s afternoon close today. All 11 displayed negative momentum.
The stocks with negative momentum were:
Efficient E-Solutions Bhd — up one sen at 23.5 sen.
Rev Asia Bhd — up 1.5 sen at 31 sen.
Eversafe Rubber Bhd — up two sen at 40 sen.
ABM Fujiya Bhd — up 2.5 sen at 51.5 sen.
Only World Group Holdings Bhd — up one sen at 44 sen.
OCB Bhd — up 22 sen at RM1.16.
BIG Industries Bhd — up 32 sen at RM1.59.
New Hoong Fatt Holdings Bhd — unchanged at RM2.30.
Cam Resources Bhd — up 1.5 sen at 36 sen.
KYM Holdings Bhd — up 2.5 sen at 45.5 sen.
Hwa Tai Industries Bhd — up 11 sen at 74.5 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.