High momentum stocks to keep an eye on 8-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.            

Bajaj Electricals: The stock has soared over 5% with massive volumes during Monday’s trading session. It has crossed above its prior swing high levels and now trades above all the key short term moving averages. Also, the technical parameters also show strong strength in the stock. Given the bullishness, we can expect a good movement from here on. 

Sterling Tools: After a long-range bound movement, the stock has finally broken out from the consolidation pattern and jumped nearly 7%. The volumes stood above average and greater than the 30-day average volume. It has also crossed above its 20-DMA level. With the stock already trading at day’s high, it is expected to show good upside in the next trading session.        

RateGain Travel Technologies: The scrip witnessed a fantastic rally of 7% on Monday and currently trades at its fresh 52-week high level. The volumes stood massive and multifold, thus showing renewed buying sentiment in the stock. 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.