High momentum stocks to watch for on August 24

High momentum stocks to watch for on August 24

Indian Market
by 5paisa Research Team Last Updated: 2022-08-23T15:06:59+05:30

Looking for stocks that could deliver good returns by August 24? 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 24.

Indigo Paints: The stock is quite attractive among traders lately and has soared 8% in the past 2 trading sessions. It has also outperformed its peers. Interestingly, it is trading near its prior swing high with above-average volume. The volumes have shot for the past 3 trading sessions, and it has a good chance of trading higher in the forthcoming trading session.

Uflex: On the technical chart, the stock has formed a higher high and higher low. On Tuesday, it zoomed nearly 4% and record good volume. The volume has turned out to be greater than the 10-day and 30-day average volume. It is trading at a day’s high, and we expect it to open gap-up in the next trading session.

Radico Khaitan: The stock made a sharp V-shaped recovery on the technical chart. It has climbed over 3% today and is now above all its key moving averages. It has registered a breakout from its cup & handle pattern with good volume. The market participants have shown strong buying interest in the stock. With this, technical parameters indicate a strong bullish upmove for the upcoming day.

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