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Mycron, Bina Puri, FSBM, Gas Malaysia, KNM, Petron, QES, Sapura Energy

KUALA LUMPUR (May 17): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday (May 17). One stock displayed positive momentum, while seven showed negative momentum.

The stock with positive momentum was:

Mycron Steel Bhd — up 1.5 sen at 76 sen

The stocks with negative momentum were:

Bina Puri Holdings Bhd — up five sen at seven sen

FSBM Holdings Bhd — up 2.5 sen at 35 sen

Gas Malaysia Bhd — up eight sen at RM3.07

KNM Group Bhd — up 1.5 sen at 19 sen

Petron Malaysia Refining & Marketing Bhd — up 42 sen at RM6.44

QES Group Bhd — up two sen at 60 sen

Sapura Energy Bhd — up 3.5 sen at 8 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.


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