High momentum stocks to watch for on October 17

High momentum stocks to watch for on October 17

by 5paisa Research Team Last Updated: Dec 13, 2022 - 09:58 pm 13k Views
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Looking for stocks that could deliver good returns by October 17? 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 October 17.

GNFC: The stock has seen a sharp upmove today, having jumped 6%. Strong price action was backed by massive volume, which was found to be greater than the 50-day average volume. It has crossed above its prior swing high level and is trading at the day’s high. Such high momentum is expected to continue in the next trading session as well.

Federal Bank: The scrip is in a steady uptrend today, having soared over 20% from its prior swing low. On Friday, the stock marked a fresh 52-week high level and has soared nearly 5%. The volume has been huge lately, suggesting strong buying interest. With such positivity, the stock is expected to trend positively in short term.

TCNS Clothing: The stock made a V-shaped recovery on the technical chart and surged 5% on Friday. It crossed above its consolidation range and is currently trading at the day’s high. It is above all its key moving averages and technical parameters also suggest bullishness. The volume has been elevated from the past few days, and we expect it to gap-up in the next trading session amidst such positivity.

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