KUALA LUMPUR (Oct 27): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close on Wednesday.
Two stocks displayed positive momentum, while four indicated negative momentum.
The stocks with positive momentum were:
Redtone Digital Bhd — up 12.5 sen at 68 sen
RGT Bhd — up 2.5 sen at 65.5 sen
The stocks with negative momentum were:
CJ Century Logistics Holdings Bhd — down 2.5 sen at 59.5 sen
Eurospan Holdings Bhd — up one sen at RM1.42
LBS Bina Group Bhd — up one sen at 54 sen
OKA Corp Bhd — down half a sen at 90.5 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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com