KUALA LUMPUR (May 10): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday (May 10). All seven stocks displayed negative momentum.
The stocks with negative momentum were:
Harrisons Holdings (Malaysia) Bhd — up 16 sen at RM6.15
Hengyuan Refining Company Bhd — down 43 sen at RM6.26
Integrated Logistics Bhd — up two and a half sen at 61.5 sen
MPHB Capital Bhd — unchanged at RM1.48
Petron Malaysia Refining & Marketing Bhd — down 16 sen at RM5.75
PGF Capital Bhd — down two sen at 87 sen
SCGM Bhd — down eight sen at RM2.30
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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com