Boustead Holdings, BP Plastics, Globaltec, Tafi, Mercury Industries

KUALA LUMPUR (June 24): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon break today. One stock displayed positive momentum while the remaining four showed negative momentum.

The stock with positive momentum was:

Boustead Holdings Bhd — down 4.5 sen at 69.5 sen

The stocks with negative momentum were:

BP Plastics Holding Bhd — up four sen at RM1.73

Globaltec Formation Bhd — up five sen at 62 sen

Tafi Industries Bhd — down 2.5 sen at 95.5 sen

Mercury Industries Bhd — unchanged at RM1.04

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.