KUALA LUMPUR (Feb 4): theedgemarkets.com highlighted eight stocks with negative momentum at Bursa Malaysia's afternoon close today.
Stocks with negative momentum were:
AbleGroup Bhd — rose one sen to 14.5 sen
Genetec Technology Bhd — rose 35 sen to RM3.27
Kobay Technology Bhd — rose 30 sen to RM5.19
Kerjaya Prospek Property Bhd — rose 7.5 sen to 89 sen
Pensonic Holdings Bhd — rose 10 sen to 75 sen
Pelangi Publishing Group Bhd — fell half a sen to 36 sen
See Hup Consolidated Bhd — rose 48 sen to RM2.10
Unimech Group Bhd — rose 12 sen to RM1.74
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