KUALA LUMPUR (July 21): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close today. The list showed four stocks with positive momentum and three stocks with negative momentum.
Stocks with positive momentum were:
TMC Life Sciences Bhd – up 0.5 sen at 89.5 sen
Bursa Malaysia Bhd – down one sen at RM8.89
Eastern & Oriental Bhd – down three sen at RM1.80
Asia Media Group Bhd – down one sen at 14 sen
Stocks with negative momentum were:
GSB Group Bhd – up 0.5 sen at 12 sen
Marco Holdings Bhd – unchanged at 15.5 sen
XOX Bhd – unchanged at 16.5 sen
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.