KUALA LUMPUR (Oct 18): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close on Monday. One stock showed positive momentum, while seven stocks displayed negative momentum.
The stock with positive momentum was:
InNature Bhd — rose five sen at 83 sen
The stocks with negative momentum were:
ACO Group Bhd — rose half a sen at 39 sen
Aneka Jaringan Holdings Bhd — unchanged at 27 sen
Focus Lumber Bhd — fell one sen at 93.5 sen
Glomac Bhd — rose one sen at 37 sen
KSL Holdings Bhd — rose 2.5 sen at 68 sen
KUB Malaysia Bhd — rose 4.5 sen at 73.5 sen
OSK Holdings Bhd — rose half a sen at 90 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.