High momentum stocks to keep an eye on 28-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.       

EIHOTEL: The stock has soared over 10% and recorded massive volumes during Friday’s trading session. It has broken out from its downward-sloping trendline and has formed a strong bullish candle. Moreover, the technical parameters also show strong strength in the stock. With the stock already trading at a day’s high, we can expect a good movement from here on.         

JK Tyres: The scrip has broken out from its ascending triangle pattern as it soared over 5% on Friday. The volumes for the last 2 days have been above average and show strong buying interest. It trades above all its key moving averages. Such momentum is likely to continue in the next trading session as well.       

Chola Holdings and Investments: The stock witnessed a fantastic rally of 5% on Friday and is currently above its prior swing high level. The volumes stood massive and multifold, thus showing renewed buying sentiment in the stock. It has formed a strong bullish candle on the technical chart. The bullish bias is very well reflected in the volumes, and thus, we expect the stock to outperform the broader market in times to come.