High momentum stocks to watch on Friday!

resr 5paisa Research Team 12th December 2022 - 11:32 am
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Looking for stocks that could deliver good returns by Monday? 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 on Friday.

Ashok Leyland: The stock has soared over 2% today. It has crossed above its previous swing high and had recorded above-average volume. It is rising steadily and is currently trading at a day’s high. The stock shows no sign of halting, and it is expected to perform well next trading session.

Birla Corporation: The stock has surged over 5% on Thursday. It has crossed above its prior swing high with huge volume. Moreover, it has gained over 20% since its recent swing low in just three trading sessions, thus demonstrating strong momentum. The volume record is greater than the 10-day, 30-day and 50-day average volume. Thus, the stock is likely to continue the momentum tomorrow.

EPL: The stock has jumped over 4% today. Since the past six trading sessions, it has continuously inched higher and has gained over 25% during this period. Moreover, the stock has recorded huge volume during this period, and it is well poised to trend stronger.

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