KUALA LUMPUR (July 3): theedgemalaysia.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close on Wednesday. Three stocks showed positive momentum, while six stocks showed negative momentum.
The stocks with positive momentum were:
- Techbond Group Bhd (KL:TECHBND) — up two sen or 3.77% at 55 sen
- Techbase Industries Bhd (KL:TECHBASE) — up two sen or 9.76% at 22.5 sen
- WCT Holdings Bhd (KL:WCT) — up 11 sen or 12.36% at RM1
The stocks with negative momentum were:
- K-One Technology Bhd (KL:K1) — up 2.5 sen or 9.93% at 30.5 sen
- Protasco Bhd (KL:PRTASCO) — up 2.5 sen or 6.76% at 39.5 sen
- Mycron Steel Bhd (KL:MYCRON) — up 2.5 sen or 5.1% at 51.5 sen
- Yong Tai Bhd (KL:YONGTAI) — up half a sen or 1.3% at 39 sen
- Salcon Bhd (KL:SALCON) — up two sen or 4.55% at 46 sen
- Jasa Kita Bhd (KL:JASKITA) — down half a sen or 3.45% at 14 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