High momentum stocks to watch for Friday

High momentum stocks to watch for Friday!

by 5paisa Research Team Last Updated: Dec 11, 2022 - 03:00 pm 29.3k Views
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Looking for stocks that could deliver good returns by Friday? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.

Many times market 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 Friday.

Hikal: The stock has soared over 9% today. Since its prior swing high, the stock witnessed a correction mode and plunged nearly 17%. However, it was quite oversold and strong buying activity is seen today. Moreover, the volume was found to be above average. The technical indicators show signs of reversal, and we expect it to trade higher tomorrow.

KPR Mills: The stock soared nearly 3% on Thursday. On the technical chart, it has formed a strong bullish candle and is trading at a day’s high. The volume is greater than the 10-day and 30-day average volume. The stock shows good momentum as it has gained about 6% since its recent swing low. Strong buying interest was seen throughout the day, and the stock is expected to trade higher tomorrow.

Siemens: The stock has soared about 5% on Thursday’s trading session. After a strong downtrend, it has seen huge buying and has surged about its 200-DMA. It has recorded huge volumes and shows no sign of halting. With the stock already trading near its day’s high, we expect it to open gap-up tomorrow.

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