KUALA LUMPUR (Aug 30): theedgemalaysia.com highlighted two stocks with positive momentum and eight stocks with negative momentum at Bursa Malaysia's afternoon close on Wednesday.
The stocks with positive momentum were:
- Matang Bhd — unchanged at nine sen
- Iskandar Waterfront City Bhd (IWCity) — down one sen or 1.32% to 75 sen
The stocks with negative momentum were:
- Harbour-Link Group Bhd — down five sen or 4.10% to RM1.17
- Petra Energy Bhd — up half a sen or 0.56% to 89 sen
- ILB Group Bhd — up 5.5 sen or 9.09% to 66 sen
- KUB Malaysia Bhd — up 2.5 sen or 4.85% to 54 sen
- Mayu Global Group Bhd — up two sen or 6.67% to 32 sen
- United U-Li Corp Bhd — up nine sen or 7.20% to RM1.34
- Kerjaya Prospek Group Bhd — up one sen or 0.81% to RM1.25
- Mah Sing Group Bhd — unchanged at 76.5 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