High momentum stocks to keep an eye on 2-May-2023

Looking for stocks that could deliver good returns soon? 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 to keep an eye on.         

IRCON: The stock is in strong uptrend momentum, having sored nearly 40% in just 3 weeks, backed by rising volumes.  With this, the stock has marked a fresh lifetime high level. All the technical parameters show bullish momentum along with positive price action of the stock. We can expect this good momentum to continue amidst rising volumes.    

Spandana Sphoorty Financial: The scrip has broken out from its consolidation pattern with above average volume ahead of its earnings. It has surged over 5% during Tuesday’s trading session and recorded multifold volumes. Moreover, it trades above all its key short-term moving averages. Such momentum is likely to continue in the next trading session as well.

HUDCO: The stock made a fantastic recovery from its March low and is up 15% in the past 2 weeks. The volumes remained elevated during this period and show strong participation level. The stock ahs crossed previous swing high and trades above all the key moving averages. With the stock already trading at day’s high, we can expect it to open gap-up in next trading session.