High momentum stocks to watch for tomorrow

High momentum stocks to watch for tomorrow!

by 5paisa Research Team Last Updated: 2022-05-02T14:41:05+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 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 tomorrow.

Amber Enterprises: The stock has skyrocketed over 7% today. It has crossed above its falling trendline with heavier volume. On the technical chart, it has formed a strong bullish candle and trades near day’s high. The stock has recorded rise in volume for fourth consecutive day, and thus, is expected to continue its bullish momentum tomorrow.

IndusInd Bank: The stock has soared over 4% on Monday. After few days of consolidation, the stock has finally broken out from its range and has also crossed above its 200-DMA. It bounced sharply from its 20-DMA, and it recorded above average volumes. With buying interest emerging in the stock, it is expected to scale further levels next day.

Prince Pipes: The stock has surged about 3% today. With this, it has formed a bullish engulfing pattern, which is a bullish pattern. It has crossed above its 20-DMA, 50-DMA, and 100-and is technically strong. Moreover, the volume is found to be greater than 10-day and 30-day average volume, which justifies buying interest among the market participants. The above points lead to a conclusion that the stock has higher chances of opening gap-up tomorrow.

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