KUALA LUMPUR (Feb 28): theedgemarkets.com highlighted 11 stocks with momentum at Bursa Malaysia's afternoon close on Monday (Feb 28). One displayed positive momentum while 10 indicated negative momentum.
The stock with positive momentum was:
Kenanga Investment Bank Bhd — down four sen at RM1.27
The stocks with negative momentum were:
Kretam Holdings Bhd — up 3.5 sen at 71 sen
Ta Ann Holdings Bhd — up 36 sen at RM5.48
Kim Loong Resources Bhd — up nine sen at RM2.04
TH Plantations Bhd — up seven sen at 94.5 sen
Sarawak Plantation Bhd — up eight sen at RM3.15
FGV Holdings Bhd — up five sen at RM2
MKH Bhd — down four sen at RM1.42
Innoprise Plantations Bhd — down one sen at RM2.02
Cepatwawasan Group Bhd — up 7.5 sen at RM1.06
TSH Resources Bhd — up nine sen at RM1.48
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