KUALA LUMPUR (Sept 1): theedgemalaysia.com highlighted three stocks with positive momentum and 12 stocks with negative momentum at Bursa Malaysia's afternoon close on Friday.
The stocks with positive momentum were:
- JAKS Resources Bhd — up 2.5 sen or 12.5% to 22.5 sen
- Encorp Bhd — up three sen or 10.91% to 30.5 sen
- MNRB Holdings Bhd — up eight sen or 7.84% to RM1.10
The stocks with negative momentum were:
- Malaysian Resources Corp Bhd (MRCB) — up five sen or 11.11% to 50 sen
- TRC Synergy Bhd — up 1.5 sen or 4.17% to 37.5 sen
- Alam Maritim Resources Bhd — up one sen or 40% to 3.5 sen
- Sealink International Bhd — up two sen or 14.81% to 15.5 sen
- Malton Bhd — down three sen or 6.59% to 42.5 sen
- New Hoong Fatt Holdings Bhd — up 10 sen or 3.31% to RM3.12
- SKB Shutters Corp Bhd — up three sen or 7.79% to 41.5 sen
- Wellcall Holdings Bhd — up three sen or 2.26% to RM1.36
- Boustead Heavy Industries Corp Bhd (BHIC) — up 9.5 sen or 16.96% to 65.5 sen
- Ekovest Bhd — up four sen or 7.41% to 58 sen
- Gadang Holdings Bhd — up 0.5 sen or 1.45% to 35 sen
- WCT Holdings Bhd — up 4.5 sen or 8.82% to 55.5 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