KUALA LUMPUR (June 16): theedgemarkets.com has highlighted six stocks with momentum at afternoon market close today.
Two stocks show positive momentum while four stocks show negative momentum.
The stocks with positive momentum are:
Pentamaster Corporation Bhd up 1 sen to 79.5 sen
CME Group Bhd unchanged at 5.5 sen
The stocks with negative momentum are:
Hwa Tai Industries Bhd up one sen at 56.5 sen
Wong Engineering Corporation Bhd down 1.5 sen at 58 sen
Melewar Industrial Group Bhd unchanged at 37 sen
Dufu Technology Corporation Bhd up 1.5 sen at 60 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.