KUALA LUMPUR (Sept 30): theedgemarkets.com highlighted five stocks at Bursa Malaysia’s afternoon close today. Three stocks indicated negative momentum, while two stock indicated positive momentum.
The stocks with negative momentum were:
Harbour-Link Group Bhd — up five sen at RM1.36
Can-One Bhd — up 38 sen at RM4.42
Destini Bhd — up one sen at 30.5 sen
The stocks with positive momentum were:
Paragon Globe Bhd — up half a sen at 32.5 sen
Yinson Holdings Bhd — up 27 sen at RM5.54
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.