High momentum stocks to watch for August 05

High momentum stocks to watch for August 05

Indian Market
by 5paisa Research Team Last Updated: 2022-08-04T16:01:38+05:30

Looking for stocks that could deliver good returns by August 05? 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 for August 05.

APL Apollo Tubes: After consolidating for 3 trading sessions, the stock has finally surged above its prior swing high and recorded above-average volumes. It has soared over 6% on Thursday and is about 25% above its prior swing low. It has registered a breakout from its double bottom pattern and is likely to trend higher in the next trading session.

Solar Industries: The scrip has surged over 5% and registered a strong breakout from its falling trendline. The volume tends to be greater than the 10-day, and 30-day average volume. Moreover, it is above all the key moving averages. The technical parameters suggest strong strength in the stock, and we expect it to open stronger in the next trading session.

Tube Investments of India: The stock has gained over 5% in Thursday’s trading session. Interestingly, the stock has jumped 12% in just 3 trading sessions. Moreover, the volumes have been huge, suggesting good buying interest. It is already trading at a day’s high and is likely to see a gap-up opening on August 5.


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