KUALA LUMPUR (April 22): theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's afternoon close on Friday. Two stocks displayed positive momentum, while five showed negative momentum.
Stocks with positive momentum were:
Power Root Bhd — up four sen at RM1.49
Teo Seng Capital Bhd — up four sen at 88.5 sen
Stocks with negative momentum were:
Ewein Bhd — up 1.5 sen at 34.5 sen
Kawan Food Bhd — up five sen at RM1.72
OSK Holdings Bhd — up 1.5 sen at 97.5 sen
Pacific & Orient Bhd — up three sen at RM1.16
Techna-X Bhd — unchanged at 10.5 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