KUALA LUMPUR (Oct 30): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon market close today.

 

Only one of the stocks show positive momentum while another seven showed negative momentum.

 

The stock with positive momentum is Guan Chong Bhd, which rose four sen or 3.05% to settle at RM1.35, for a market capitalisation of RM623.9 million. 

 

The stocks with negative momentum are

 

Ekovest Bhd inched up two sen or 1.89% to trade at RM1.08, for a market capitalisation of RM906.8 million. 

 

SYF Resources Bhd gained two sen or 3.85% to trade at 54 sen, bringing its market capitalisation to RM317.8 million. 

 

George Kent (M) Bhd rose six sen or 3.64% to RM1.71, giving it a market capitalisation of RM495.7 million. 

 

Chee Wah Corp Bhd added 11 sen or 8.33% to trade at RM1.43, for a market capitalisation of RM55.6 million. 

 

KBES Bhd inched up one sen or 2.9% to 35.5 sen, for a market capitalisation of RM43.5 million. 

 

EITA Resouces Bhd fell one sen or 0.67% to RM1.48, valuing it at RM193.7 million. 

 

Fajarbaru Builder Group Bhd gained 1.5 sen or 2.86% to 54 sen, giving it a market capitalisation of RM172.7 million. 

 

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.