KUALA LUMPUR (Sept 23): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close today. Four stocks displayed negative momentum, while four stock displayed positive momentum.
The stocks with negative momentum were:
Opcom Holdings Bhd — up eight sen at RM1.19
Unisem (M) Bhd — up 36 sen at RM8.91
Oriental Food Industries Bhd — up 1.5 sen at 97 sen
KESM Industries Bhd — up 68 sen at RM12.78
The stocks with positive momentum were:
Binasat Communications Bhd — down three sen at 40 sen
PMB Technology Bhd — up 60 sen at RM11.96
Wellcall Holdings Bhd — up three sen at RM1.09
Sam Engineering Bhd — up RM2.36 at RM19.36
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.