High momentum stocks to watch for July 04!

High momentum stocks to watch for July 04!

by 5paisa Research Team Last Updated: Dec 12, 2022 - 01:01 am 23.5k Views
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Looking for stocks that could deliver good returns till July 04? 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 July 04.

Jubilant Foodworks Ltd: The stock has surged over 5% on a weak market day. It currently trades near the breakout level of its triangle pattern. Interestingly, the stock has formed a bullish candle and has recorded above-average volumes. It is trading at a day's high, and we can expect a positive move in the next trading session.

Metro Brands: The stock has registered a strong breakout from its triangle pattern and has soared over 4%. It has recorded huge volumes which is greater than the 10-day and 30-day average volumes. Also, rising volume was seen for the third consecutive day, which is a positive sign. Thus, the stock has a strong chance of gap-up in the next trading session.

United Spirits Limited: The scrip has jumped over 3% in Friday's trading session. With this, it has crossed above its Short term resistance level of Rs 775. It has crossed above its 20-DMA and registered good volumes. It has formed back to back to bullish candles and is expected to trade higher on July 04.

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