High momentum stocks to watch for tomorrow!

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: 2022-02-02T14:44:04+05:30

Looking for stocks that could deliver good returns till tomorrow? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.

Many of the time 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 tomorrow.

CCL Products: The stock has surged over 6% on Thursday. It has soared for third straight day and has hit a fresh all-time high. This price action is backed by huge volume which is about fve times the previous day’s volume. The stock is above its 20-day short term moving average by over 10% which indicates high momentum of the uptrend. With such large participation, the stock is expected to continue the momentum on the higher side and is likely to be bullish on Friday as well.

Canfin Homes: The stock has soared over six and a half percent and has taken out its prior swing high. In just five trading days, the stock has moved over 15%, thus indicating an extremely bullish nature. The stock has also recorded more than average volume during this period. With such bullishness, the stock is expected to gap-up tomorrow.

Elgi Equipments: The stock has jumped over 9% on Thursday. It has surged for the third consecutive day and has gained over 15% during this period. Today, the stock registered a 7-fold volume over its previous day’s volume, indication greater buying interest among the market participants. The all-time high is within the touching distance, and one can expect this stock to be soaring into the uncharted territory in very near future

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