KUALA LUMPUR (Jan 16): theedgemarkets.com highlighted two stocks with positive momentum and eight stocks with negative momentum at Bursa Malaysia's afternoon close on Monday (Jan 16).
The stocks with positive momentum were:
- Tex Cycle Technology (M) Bhd — up 1.5 sen at 78.5 sen
- Volcano Bhd — up three sen at 54.5 sen
The stocks with negative momentum were:
- Amway (M) Holdings Bhd — up eight sen at RM5.18
- Dancomech Holdings Bhd — up one sen at 43 sen
- Ewein Bhd — up four sen at 44 sen
- Icon Offshore Bhd — up half a sen at 10 sen
- Niche Capital Emas Holdings Bhd — unchanged at 15 sen
- PIE Industrial Bhd — up 10 sen at RM2.93
- Tomei Consolidated Bhd — unchanged at RM1.15
- Velesto Energy Bhd — up half a sen at 18 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