KUALA LUMPUR (June 5): theedgemalaysia.com highlighted two stocks with positive momentum and seven stocks with negative momentum at Bursa Malaysia's afternoon close on Wednesday.
The stocks with positive momentum were:
Dagang NeXchange Bhd (KL:DNEX) — up 1.5 sen to 47.5 sen
LFE Corporation Bhd (KL:LFECORP) — unchanged at 27.5 sen
The stocks with negative momentum were:
CEKD Bhd (KL:CEKD) — up 1.5 sen to 54 sen
Cheetah Holdings Bhd (KL:CHEETAH) — up half a sen to 14.5 sen
Evergreen Fibreboard Bhd (KL:EVERGRN) — up two sen to 35.5 sen
I-Bhd (KL:IBHD) — up 1.5 sen to 28 sen
Mayu Global Group Bhd (KL:MAYU) — up one sen to 37.5 sen
Panasonic Manufacturing Malaysia Bhd (KL:PANAMY) — down six sen to RM20.50
WCT Holdings Bhd (KL:WCT) — up two sen to 62.5 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