AEM, Ireka, Prolexus, Eco World, Asia Media, Bina Puri, Mycron, Sunway REIT

, (Oct 18): has highlighted eight stocks with momentum at afternoon market close today. Three stocks show positive momentum and five stocks show negative momentum.

Stocks with positive momentum are:

AE Multi Holdings Bhd (fundamental: 0.35; valuation: 0.90) up 1 sen to 18.5 sen.

Ireka Corporation Bhd (fundamental: 0; valuation: 1.80) up 1.5 sen to 67 sen.

Prolexus Bhd (fundamental: 2.80; valuation: 1.80) up 2 sen to RM1.62.

Stocks with negative momentum are:

Eco World Development Group Bhd (fundamental: 0.80; valuation: 1.70) up 1 sen to RM1.37.

Asia Media Group Bhd (fundamental: 1.35; valuation: 0.30) flat to 24 sen.

Bina Puri Holdings Bhd (fundamental: 0.15; valuation: 1.1) up 2 sen to 46 sen.

Mycron Steel Bhd (fundamental: 1.0; valuation: 1.7) up 1 sen to 97.5 sen.

Sunway Real Estate Investment Trust (fundamental: 1.00; valuation: 0.15) down 2 sen to RM1.73.

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 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 momentumgenerally only persists for a short period of time.

Source: The Edge Markets

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