Tuesday 03 Oct 2023
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KUALA LUMPUR (Dec 11): theedgemarkets.com has highlighted five stocks with momentum at afternoon market close today. One stock showed positive momentum and four stocks displayed negative momentum.

The stock with positive momentum was:

Dolomite Corp Bhd — down 0.5 sen at 38.5 sen

The stocks with negative momentum were:

Excel Force MSC Bhd — up 5 sen at 93 sen

CWorks Systems Bhd — up 2 sen at 32 sen

EG Industries Bhd — unchanged at RM1.05

Halex Holdings Bhd — up 6 sen at 70sen

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 momentumgenerally 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.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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