KUALA LUMPUR (Sept 23): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon market close today. The list showed two stocks with positive momentum and six with negative momentum.
Stocks with positive momentum were:
Sinotop Holdings Bhd — up 0.5 sen at 5.5 sen
Aluminium Co of Malaysia Bhd — up one sen at 98 sen
Stocks with negative momentum were:
Stemlife Bhd — unchanged at 53 sen
Tien Wah Press Holdings Bhd — up seven sen at RM1.84
CSC Steel Holdings Bhd — up four sen at RM2
Malaysia Building Society Bhd (MBSB) — up 1.5 sen at 93 sen
Magna Prima Bhd — up five sen at RM2.27
AppAsia Bhd — up two sen at 23 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.