High momentum stocks to keep an eye on 24-May-2023

high momentum stocks, 5paisa, Stocks for tomorrow, Gap-up, Stove Kraft, Engineers India, Ceat, price action, volume

by Tanushree Jaiswal Last Updated: May 25, 2023 - 10:03 am 71 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:            

Stove Kraft: The stock resumed its uptrend as it jumped 3%, supported by above-average volumes. It has risen nearly 40% since April lows and continues to trade stronger as indicated by the technical parameters. The volume remained high and showed good buying strength. With the stock trading at the day’s high, we can expect a gap-up opening in the next trading session.   

Engineers India: After a brief consolidation period, the stock has finally broken out of the range and surged 8% on Wednesday. With this, it has marked a fresh 52-week high level and recorded massive volumes. The technical parameters also indicate rising strength in the stock. We can expect it to remain positive in the next trading session as well.   

Ceat Ltd: The stock continued its bullish momentum as it soared 5% on Wednesday, taking the tally to 12% in the past 3 trading sessions. The volumes recorded during this period have been huge and greater than the 50-day average volumes. It has also hit a fresh all-time high level on the exchanges. With positive price action and bullish technical parameters, the stock is expected to remain bullish in the next trading session.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

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