KUALA LUMPUR (Nov 2): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday.
Three stocks displayed negative momentum, while two indicated positive momentum.
The stocks with negative momentum were:
REDtone Digital Bhd – up one sen at 67.5 sen
Hong Seng Consolidated Bhd – up 26 sen at RM3.80
Teo Guan Lee Corp Bhd – up two sen at RM1.12
The stocks with positive momentum were:
Chin Hin Group Bhd – down 15 sen at RM2.04
Jade Marvel Group Bhd – unchanged at 64 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.