KUALA LUMPUR (Oct 26): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday.
Three stocks displayed positive momentum, while six showed negative momentum.
The stocks with positive momentum were:
UEM Edgenta Bhd – up 15 sen at RM1.94
Iqzan Holding Bhd – up half a sen at seven sen
CJ Century Logistics Holdings Bhd – up four sen at 59 sen
The stocks with negative momentum were:
Chin Hin Group Bhd – down three sen at RM1.92
China Ouhua Winery Holdings Ltd – up half a sen at 10 sen
Kuchai Development Bhd – down five sen at RM2.01
RCE Capital Bhd – up eight sen at RM3.42
Signature International Bhd – up four sen at RM1.09
WZ Satu Bhd – up half a sen at 19 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.