KUALA LUMPUR (Aug 28): theedgemalaysia.com highlighted 14 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday (Aug 28), with no positive momentum stock identified.
The stocks with negative momentum were:
- Eastern & Oriental Bhd (E&O) — up 7.5 sen or 15.6% at 55.5 sen
- Dutaland Bhd — down half a sen or 1.6% at 31.5 sen
- Glomac Bhd — up 2.5 sen or 6.9% at 39 sen
- Knusford Bhd — up 2.5 sen or 4.0% at 65.5 sen
- KSL Holdings Bhd — up 11.5 sen or 11.9% to RM1.08
- JCY International Bhd — up half a sen or 2.7% at 19 sen
- AirAsia X Bhd (AAX) — up eight sen or 3.2% at RM2.59
- Econpile Holdings Bhd — up three sen or 10.3% at 32 sen
- Malton Bhd — up 1.5 sen or 3.5% at 44 sen
- Axteria Group Bhd — up half a sen or 2.9% at 17.5 sen
- S P Setia Bhd — up eight sen or 9.6% at 91 sen
- Ekovest Bhd — up six sen or 13.2% at 51.5 sen
- Ekovest-C34 call warrants — up 4.5 sen or 300% at six sen
- MK Land Holdings Bhd — up two sen or 9.3% at 23.5 sen
- Iskandar Waterfront City Bhd (IWCity) — up eight sen or 13.5% at 67.5 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