KUALA LUMPUR (May 9): theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum, while five stocks showed negative momentum.
The stocks with positive momentum were:
- IGB Bhd (KL:IGBB) — unchanged at RM2.49
- Paragon Globe Bhd (KL:PGLOBE) — up 1.5 sen or 5.45% at 29 sen
The stocks with negative momentum were:
- GHL Systems Bhd (KL:GHLSYS) — up 10.5 sen or 12.14% at 97 sen
- Sunzen Biotech Bhd (KL:SUNZEN) — up half a sen or 1.43% at 35.5 sen
- Aneka Jaringan Holdings Bhd (KL:ANEKA) — up half a sen or 1.69% at 30 sen
- SNS Network Technology Bhd (KL:SNS) — up 3.5 sen or 7.22% at 52 sen
- VSTECS Bhd (KL:VSTECS) — up 62 sen or 22.46% at RM3.38
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