KUALA LUMPUR (Aug 20): theedgemalaysia.com highlighted two stocks with positive momentum and seven stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday.
The stocks with positive momentum were:
- IJM Corp Bhd (KL:IJM) — up 11 sen or 4.1% at RM2.80
- NI Hsin Group Bhd (KL:NIHSIN) — up one sen or 11.1% at 10 sen
The stocks with negative momentum were
- AHB Holdings Bhd (KL:AHB) — unchanged at five sen
- CBH Engineering Holding Bhd (KL:CBHB) — up 6.5 sen or 8.2% to 85.5 sen
- Cnergenz Bhd (KL:CNERGEN) — up 3.5 sen or 4.9% to 74.5 sen
- JCY International Bhd (KL:JCY) — up one sen or 1.9% to 52.5 sen
- Kronologi Asia Bhd (KL:KRONO) — up 2.5 sen or 17.9% to 16.5 sen
- Power Root Bhd (KL:PWROOT) — down three sen or 2.6% to RM1.13
- Ranhill Utilities Bhd (KL:RANHILL) — down 10 sen or 3.6% to RM2.67
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