KUALA LUMPUR (June 8): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today. The list showed four stocks with positive momentum and two stocks with negative momentum.
Stocks with positive momentum were:
Muar Ban Lee Group Bhd – unchanged at 88 sen
Kein Hing International Bhd – unchanged at RM1.10
Land & General Bhd – unchanged 40.5 sen
Eonmetall Group Bhd – unchanged at 82.5 sen
Stocks with negative momentum were:
Brite-Tech Bhd – unchanged at 35.5 sen
Gadang Holdings Bhd – unchanged RM2.17
The list of stocks with momentum is generated using a propriety 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.