KUALA LUMPUR (July 11): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. The list showed two stocks with positive momentum and 4 stocks with negative momentum
Stocks with positive momentum were:
Borneo Oil Bhd – unchanged at 18.5 sen
Eonmetall Grop Bhd - down 0.5 sen at 79.5 sen
Stocks with negative momentum were:
TMC Life Sciences Bhd — unchanged at 86 sen
Tiong Nam Logistics Holdings Bhd – unchanged at RM1.60
LB Aluminium Bhd - unchanged at 62.5 sen
Tadmax Resources Bhd - unchanged at 48.5 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.