KUALA LUMPUR (June 10): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close today. Three stocks displayed positive momentum, while the remaining four showed negative momentum.
The stocks with positive momentum were:
Harbour-Link Group Bhd — up five sen at 99 sen
IJM Plantations Bhd — up 58 sen at RM3.04
ManagePay Systems Bhd — down 2.5 sen at 24 sen
The stocks with negative momentum were:
Eversafe Rubber Bhd — up five sen at 35.5 sen
Mulpha International Bhd — up five sen at RM1.75
Sersol Bhd — down five sen at 32.5 sen
TAFI Industries Bhd — up two sen at 85.5 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.