High momentum stocks to keep an eye on 23-Feb-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:        

Sonata Software: The stock continued its uptrend on Thursday and has soared nearly 6%. The volume recorded has been above average and greater than the 30-day and 50-day average volume. All its key moving averages are in an uptrend and indicate strong bullishness across all timeframes. We can expect it to remain positive in the next trading session as well.

Indus Tower: The scrip registered a strong price volume breakout from its consolidation pattern, rising over 4% backed by rising volume. It has formed a strong bullish bar on the technical chart and technical parameters also indicate strong strength in the stock. With the trading at the day’s high, we can expect a gap-up opening in the next trading session.         

Equitas Bank: The stock has jumped nearly 8% and has marked a fresh 52-week high level. The volumes have been massive lately and indicate strong buying activity in the stock. The 14-period daily RSI shows strong trend strength. With positive price action and bullish technical parameters, the stock is expected to remain bullish in the next trading session.