KUALA LUMPUR (July 9): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon close today. Two stocks displayed positive momentum, while five showed negative momentum.
The stocks with positive momentum were:
Tex Cycle Technology (M) Bhd — up 1.5 sen at 45.5 sen
Widetech (Malaysia) Bhd — up 65 sen at RM4.85
The stocks with negative momentum were:
Tri-Mode System (M) Bhd — up six sen at 78 sen
Malaysian Pacific Industries Bhd (MPI) — up RM1.18 at RM40.98
Stella Holdings Bhd — down 12 sen at RM1.04
Kumpulan H & L High-Tech Bhd (Hightec) — up RM1 at RM5.34
Poly Glass Fibre (M) Bhd — up three sen at 83 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