KUALA LUMPUR (Sept 15): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia’s afternoon close today. Nine stocks displayed negative momentum, while only one stock displayed positive momentum.
The stocks with negative momentum were:
Elsoft Research Bhd — up 4.5 sen at 91.5 sen
Menang Corp (M) Bhd — up two sen at 52 sen
Damansara Holdings Bhd — down 2.5 sen at 46.5 sen
White Horse Bhd — up 5.5 sen at 77.5 sen
Encorp Bhd — up five sen at 41 sen
Fajarbaru Builder Group Bhd — up one sen at 87 sen
Iqzan Holding Bhd — up one sen at 14.5 sen
Tien Wah Press Holdings Bhd — up nine sen at RM1.22
Lee Swee Kiat Group Bhd — up three sen at 94 sen
The stock with positive momentum was:
Kelington Group Bhd — up 28 sen at RM1.72
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.