High momentum stocks to keep an eye on 20-March-2023

High momentum stocks to keep an eye on 20-March-2023

by 5paisa Research Team Last Updated: Mar 20, 2023 - 03:09 pm 295 Views

Looking for stocks that could deliver good returns soon? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.            

Many participants see a stock opening with a gap-up and wish they should have bought this high momentum stock a day before to take advantage of the gap-up move. To fulfil this wish, we have come out with a unique system, which would help us to get the list of candidates that can be probable high momentum stocks for tomorrow.

The high momentum stocks for tomorrow selected are based on a three-factor prudent model. The first important factor for this model is price, the second key factor is the pattern, and last but not least is the combination of momentum with volume. If a stock passes all these filters, it would flash in our system and as a result, it would help traders to spot the high momentum stocks for tomorrow at the right time!         

Here are the high momentum stocks to keep an eye on.              

Aarti Drugs: The scrip surged nearly 10% and registered a strong V-shaped recovery on the technical chart. After a steep correction of about 38% from its prior swing high, the stock has seen huge buying interest at lower levels. On the technical chart, the stock has engulfed the previous 4 bearish bars and trades near 20-DMA. With the stock already trading at the day’s high, it is likely to open with a gap-up in the next trading session. 

Route Mobile: The scrip trades at the breakout level of its consolidation pattern. It jumped over 4% on Monday backed by above-average volume. It trades above all its key moving averages and has formed a strong bullish candle on the chart. The stock is expected to see a strong near-term uptrend given the positivity.       

The Phoenix Mills: After a decent correction, the stock is now up for the second consecutive day with good volumes. It has formed a swing low and has bounced off nearly 10% from that level. Meanwhile, the stock has gained nearly 3% today and the relative strength appears to be improving. It is likely to be in focus for the next trading session.

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