KUALA LUMPUR (Jan 20): theedgemarkets.com highlighted two stocks with positive momentum and nine stocks with negative momentum at Bursa Malaysia's afternoon close on Friday (Jan 20).
The stocks with positive momentum were:
- Malayan Cement Bhd – up one sen or 0.45% at RM2.25
- Resintech Bhd – down one sen or 1.27% at 57 sen
The stocks with negative momentum were:
- Capitaland Malaysia Trust – up two sen or 3.67% at 56 sen
- Coraza Integrated Technology Bhd – up six sen or 7.41% at 87 sen
- Eita Resources Bhd – up one sen or 1.26% at 80 sen
- PLS Plantations Bhd – remained unchanged at RM1.02
- Reach Energy Bhd – remained unchanged at six sen
- Scope Industries Bhd – up one sen or 4.76% at 22 sen
- XL Holdings Bhd – up 1.5 sen or 1.86% at 82 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