KUALA LUMPUR (Dec 21): theedgemarkets.com highlighted 10 stocks with momentum at Bursa Malaysia's afternoon close on Wednesday (Dec 21). Three stocks had positive momentum, while seven stocks showed negative momentum.
The stocks with positive momentum were:
- Citaglobal Bhd — up two sen at 29.5 sen
- Kein Hing International Bhd — up 22 sen at RM1.96
- MTAG Group Bhd — down four sen at 64 sen
The stocks with negative momentum were:
- Binasat Communications Bhd — unchanged at 32 sen
- Industronics Bhd — down one sen at 10 sen
- Ken Holdings Bhd — up two sen at 52.5 sen
- MCE Holdings Bhd — up two sen at RM1.38
- Nylex (Malaysia) Bhd — up three sen at 35 sen
- Toyo Ventures Holdings Bhd — up 14.5 sen at 86.5 sen
- YX Precious Metals Bhd — up 2.5 sen at 26 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.
For more detailed financial information and reports on the above-mentioned stocks, please subscribe to AbsolutelyStocks at www.absolutelystocks.com