KUALA LUMPUR (April 22): theedgemarkets.com highlighted seven stocks with negative momentum at Bursa Malaysia’s afternoon close today.
The stocks with negative momentum were:
Inta Bina Group Bhd — up one sen at 32.5 sen
Key Asic Bhd — down 2.5 sen at 18.5 sen
Innoprise Plantations Bhd — up two sen at RM1.29
Malaysian Bulk Carriers Bhd (Maybulk) — up two sen at 74 sen
Excel Force MSC Bhd — up 3.5 sen at 67.5 sen
Nylex (Malaysia) Bhd — up five sen at 85 sen
UCrest Bhd — down eight sen at 40.5 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.