Stocks With Momentum - Naim Indah, DRB-Hicom, Amalgamated Industrial Steel, Malayan Flour, Eonmetall

KUALA LUMPUR (Aug 9): highlighted five stocks with momentum at Bursa Malaysia’s afternoon market close today. It showed one with positive momentum and four with negative momentum.

The stock with positive momentum was :

Naim Indah Corp Bhd – up one sen at nine sen

Stocks with negative momentum were:

DRB-Hicom Bhd – up seven sen at RM1.23

Amalgamated Industrial Steel Bhd – up two sen at 54 sen

Malayan Flour Mills Bhd – down three sen at RM1.52

Eonmetall Group Bhd – up four sen at 84.5 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.