High momentum stocks to keep an eye on 28-Feb-2023

High momentum stocks to keep an eye on!

by 5paisa Research Team Last Updated: Sep 07, 2023 - 05:09 pm 560 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.       

Elgi Equipments: The stock witnessed a strong price volume breakout from its consolidation pattern. Interestingly, the stock witnessed strong buying at its 200-DMA level and recorded massive volume. It gained nearly 8% during Tuesday’s trading session and is one of the top trending stocks in the broader market. We can expect a positive move in the next trading session given such strong price action.      

Yes Bank: The scrip has jumped over 5% and recorded above-average volume. The volume stood greater than the 10-day volume and showed good buying interest. The stock took the support of its 200-DMA and witnessed a positive move on Tuesday. With the stock already trading at the day’s high, we can expect it to remain bullish in the next trading session as well.        

Dixon Technologies: The shares of DIXON witnessed a strong surge of over 4% on Tuesday. It has broken out from its confined range at lower levels. With this, it has crossed above its 20-DMA and registered good volumes. Such positivity is likely to be reflected in the next trading session.

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