High momentum stocks to watch for August 18

High momentum stocks to watch for August 18

by 5paisa Research Team Last Updated: Dec 13, 2022 - 04:56 pm 18.9k Views
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Looking for stocks that could deliver good returns till August 18? 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 18.

Mahindra Logistics Ltd: The stock has registered a breakout from its falling trendline on Wednesday. It has surged over 6% and recorded above-average volume. The technical indicators indicate bullishness in the stock. It is trading at a day’s high and is likely to see strong buying interest in the coming time.

Zee Entertainment Enterprises Ltd: The stock jumped over 5% on Wednesday. It broke out from its downward sloping trendline, and volume is found to be greater than the 10-day and 30-day average volume. Strong buying interest has been seen at lower levels. It is above 20-DMA, 50-DMA and 100-DMA and is expected to gain momentum in the upcoming trading session.

Supreme Industries: The scrip broke out from its triangle pattern and has surged over 5%. With this, it has crossed above the 61.8% retracement of its prior downtrend. It has also surged past its prior swing high of Rs 1932 and witnessed heavy volume. With the stock already trading at a day’s high, it is expected to open gap-up on August 18.

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