Tuesday 23 Apr 2024
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KUALA LUMPUR (Feb 6): theedgemarkets.com highlighted 21 stocks with momentum at Bursa Malaysia's afternoon market close today. One stock showed positive momentum while 20 had negative momentum

Stock with positive momentum was:

Scomi Energy Services Bhd – up 1.5 sen at 25 sen

Stocks with negative momentum were:

Advance Synergy Bhd – up half sen at 12 sen

Benalec Holdings Bhd – up 1.5 sen at 50 sen

Chemical Company of Malaysia Bhd – up 6 sen at RM1.21

Evergreen Fibreboard Bhd – down 5 sen at 99 sen

Goodway Integrated Industries Bhd – up 1 sen at 67 sen

Harbour-Link Group Bhd – up 3 sen at 84 sen

JCY International Bhd – down half a sen at 64 sen

Kelington Group Bhd – up 3.5 sen at 35 sen

Kretam Holdings Bhd – up half a sen at 55 sen

Malton Bhd – up 5.5 sen at 85 sen

Nylex (Malaysia) Bhd – up 2 sen at 69 sen

Orion IXL Bhd – up 1 sen at 24 sen

Rexit Bhd – up 3.5 sen at 66 sen

Scomi Engineering Bhd – 10.5 sen at 42 sen

Seal Incorporated Bhd – up 2.5 sen at 54 sen

Eversendai Corp Bhd – up 4.5 sen at 73 sen

Signature International Bhd – up 3 sen at 93 sen

Southern Steel Bhd – up 4 sen at RM1.34

Systech Bhd – up 1.5 sen at 26 sen

WCE Holdings Bhd – up 6 sen at RM1.22

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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