High momentum stocks to watch for August 12

High momentum stocks to watch for August 12

by 5paisa Research Team Last Updated: Dec 14, 2022 - 12:33 am 19k Views

Looking for stocks that could deliver good returns till August 12? 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 12.

Uflex: The stock surged over 7% and has registered a strong breakout from its ascending triangle pattern. It recorded huge volume and is greater than 30-day and 450-day average volume. It is above all the key moving averages and has also formed bullish candle. With such positivity, we expect it open gap-up in next trading session.

Affle: The stock jumped over 5% on Thursday. It consolidated for the past few days, but strong buying interest at lower levels has propelled the stock higher. It has surged above its 200-DMA with huge volumes today. It is trading at day’s high and is expected to continue its upward momentum in next trading session.

Piramal Enterprises Limited: The scrip climbed over 4% in Thursday’s trading session. It is in a continuous uptrend, having gained about 9% in the past three trading sessions. The volumes turned out to be above average during this period and the stock has surged above its 100-DMA. Consecutive bullish candle signifies strong buying interest, and the stock is likely to be trending higher in next trading session.

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