KUALA LUMPUR (May 29): theedgemalaysia.com highlighted three stocks with positive momentum and four stocks with negative momentum at Bursa Malaysia on Wednesday.
The stocks with positive momentum were:
- Wegmans Holdings Berhad(KL:WEGMANS): up 1.5 sen or 7.69% to 21 sen
- Kip Real Estate Investment Trust(KL:KIPREIT): down half a sen or 0.56% to 89 sen
- Kobay Technology Bhd(KL:KOBAY): up 17 sen or 7.98% to RM2.30
The stocks with negative momentum were:
- Parkson Holdings Bhd(KL:PARKSON): up one sen or 3.33% to 31 sen
- Salcon Bhd(KL:SALCON): up 2.5 sen or 8.2% to 33 sen
- Matrix Concepts Holdings Bhd(KL:MATRIX): down two sen or 1.1% to RM1.80
- MPHB Capital Bhd(KL:MPHBCAP): unchanged at RM1.63
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