KUALA LUMPUR (Oct 26): theedgemarkets.com highlighted one stock with positive momentum and six stocks with negative momentum at Bursa Malaysia's afternoon close on Wednesday (Oct 26).
The stock with positive momentum was:
- Lingkaran Trans Kota Holdings Bhd (Litrak) — up one sen at RM5.02
The stocks with negative momentum were:
- Vinvest Capital Holdings Bhd — down half a sen at 21 sen
- Asia Poly Holdings Bhd — up one sen at 17 sen
- Kim Teck Cheong Consolidated Bhd — up 1.5 sen at 22 sen
- Marine & General Bhd — down half a sen at 9.5 sen
- Kein Hing International Bhd — up two sen at RM1.31
- Tafi Industries Bhd — up two sen at 56 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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com