Bursa Malaysia momentum screen flags Citaglobal, OCB at Friday afternoon close
Unusual trading activity continues to draw investors’ attention on Bursa Malaysia, as Friday afternoon’s momentum screen flagged two stocks classified as having negative momentum. Citaglobal Bhd and OCB Bhd both posted price gains, but were still listed under an indicator that combines trading volume and price trends.
Highlights
- Citaglobal Bhd rose 1.65% to RM1.23 and OCB Bhd rose 0.5% to RM1.00, but both were listed as having negative momentum at Friday afternoon’s close.
- Bursa Malaysia’s momentum screen uses a mathematical algorithm to identify stocks based on trading volume and price trends, distinguishing between positive and negative momentum.
- Stocks flagged for negative momentum, such as Citaglobal and OCB, are not investment recommendations but indicators of unusual volume and significant price changes over a short period.
This article was translated from the original. Read the original version by our correspondent here.
Bursa Malaysia afternoon momentum screen
As reported by The Edge Malaysia, the two stocks flagged as having negative momentum at Friday afternoon’s Bursa Malaysia close were Citaglobal Bhd and OCB Bhd.Citaglobal Bhd rose two sen, or 1.65%, to RM1.23, while OCB Bhd added half a sen, or 0.5%, to RM1.00. Although both stocks posted price gains during the session, they still appeared on the negative momentum list generated by a proprietary, mathematics-based system.
According to the screening methodology, the algorithm identifies stocks showing increases in trading volume and price movements. It also distinguishes between stocks displaying positive and negative momentum based on a combination of volume signals and price trends.
Trading indicator, not investment advice
The momentum list is not presented as a buy or sell recommendation, but rather as an indicator of stocks experiencing higher-than-usual volume and significant price changes.A positive indicator points to an upward price trend supported by volume, while a negative indicator reflects a downward price trend at a given volume level. However, a stock’s price can still move either way after it is listed, and momentum typically lasts only for a short time.
Each stock on the list is also accompanied by a fundamental score and a valuation score to help readers assess its appeal if they wish to take advantage of the momentum move.
Previously, we discussed weak SPX momentum as technical pressure weighed on the S&P 500 index.
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