High momentum stocks to keep an eye on 20-APRIL-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.    

Lemon Tree Hotels: The stock has surged over 4% on Thursday backed by massive volumes. It has broken out from its 17-week consolidation pattern and traded above all its key moving averages. Interestingly, the technical parameters show strong strength, and the stock is expected to trade higher in the next trading session.

Mastek: The stock has zoomed over 12% during Thursday’s trading session. With this, it has soared above its 200-DMA level with good volumes. It has jumped above its prior swig high level and shows strong momentum. The volume has risen multifold and greater than 50-day average volume. With such positivity, it is expected to scale further highs in near future.

Rupa & Company: The scrip has been in strong upside momentum lately, having gained over 12% in the past 2 days. The volumes have been higher and thus show strong buying interest. The stock is above aits prior swing high and above its short-term moving averages. The stock trades at the day’s high, and we expect it to open gap-up in the next trading session given such positivity.