KUALA LUMPUR (Sept 8): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia’s afternoon close today. Eight stocks displayed negative momentum, while three displayed positive momentum.
The stocks with negative momentum were:
MMC Corp Bhd — up two sen at RM1.86
Kluang Rubber Co (M) Bhd — up 59 sen at RM4.60
Sungei Bagan Rubber Co (M) Bhd — up 35 sen at RM3.55
Can-One Bhd — up 17 sen at RM4.07
KNM Group Bhd — down five sen at 26.5 sen
PMB Technology Bhd — up 20 sen at RM7.13
TAFI Industries Bhd — up 10 sen at RM2.67
Pensonic Holdings Bhd — up 2.5 sen at 78.5 sen
The stocks with positive momentum were:
PUC Bhd — up 1.5 sen at 18 sen
MHC Plantations Bhd — up four sen at 91.5 sen
Kumpulan H & L High-Tech Bhd — up 14 sen at RM2.33
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. -The Edge Markets