KUALA LUMPUR (June 2): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia's afternoon market close today. Three of the stocks show positive momentum while five show negative momentum.
Stocks with positive momentum are:
Golden Land Bhd (fundamental: 0.7; valuation: 2) down five sen at RM1.59
Mulpha Land Bhd (fundamental: 1.3; valuation: 1.1) down two sen at RM1.06
Prolexus Bhd (fundamental: 2.8; valuation: 1.5) up six sen at RM2.16
Stocks with negative momentum are:
Rexit Bhd (fundamental: 1.95; valuation: 1.3) up three sen at 50.5 sen
Gopeng Bhd (fundamental: 0.9; valuation: 1.8) up five sen at RM1.15
Xingquan International Sports Holdings Ltd (fundamental: 1.95; valuation: 3) up 4.5 sen at 65 sen
Abric Bhd (fundamental: 1.8; valuation: 3) up three sen at 59.5 sen
Kawan Food Bhd (fundamental: 3; valuation: 1.1) up 24 sen at RM2.17
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.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
http://www.theedgemarkets.com
