KPower, KYM, FPI, Silk Holdings, YOCB, Elk-Desa
KUALA LUMPUR (June 16): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon market close today. Three stocks showed positive momentum while three others showed negative momentum.
The stocks with positive momentum are:
Kumpulan Powernet Bhd (fundamental: 0.8; valuation: 0.3) up two sen at 70 sen
KYM Holdings Bhd (fundamental: 0.55; valuation: 0.3) up four sen at 68 sen
Formosa Prosonic Industries Bhd (fundamental: 2.5; valuation: 2) up two sen at 92.5 sen
The stocks with negative momentum are:
Silk Holdings Bhd (fundamental: 0; valuation: 0) flat at 50.5 sen
Yoong Onn Corp Bhd (fundamental: 2.35; valuation: 2.4) up six sen at RM1.34
Elk Desa Resources Bhd (fundamental: 2.3; valuation: 2.6) up two sen at RM1.26
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.
(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.)
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