High momentum stocks to keep an eye on 11-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.       

Mahindra Holidays: The stock has soared over 4% and has recorded massive volumes. It has broken out from its strong horizontal resistance and is above its short-term moving averages. 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.       

Torrent Power: The scrip has broken out from its downward sloping trendline and has surged nearly 5% on Tuesday. It has formed a strong bullish bar and recorded good volumes. Such momentum is likely to continue in the next trading session as well.     

Apcotex Industries: The stock is in strong uptrend, having soared over 20% in the past one week. With today’s rally of 4%, it has crossed above its 200-DMA and is now above all its key moving averages. Moreover, the volume stood above average and greater than 30-day average volume. 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.