KUALA LUMPUR (July 12): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon market close today. The list showed two stocks with positive momentum and seven stocks with negative momentum.
Stocks with positive momentum were:
Mexter Technology Bhd – up 0.5 sen at 24.5 sen
Mitrajaya Holdings Bhd – up two sen at RM1.36
Stocks with negative momentum were :
Minho (M) Bhd – up five sen at RM1.58
Tadmax Resources Bhd – up 0.5 sen at 50 sen
OKA Corp Bhd – up three sen at RM1.21
LB Aluminium Bhd – down 0.5 sen at 62.5 sen
LPI Capital Bhd – down four sen at RM16.10
Tiong Nam Logistics Holdings Bhd – down two sen at RM1.60
Daibochi Plastic and Packaging Industry Bhd – unchanged at RM2.12
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.