High momentum stocks to keep an eye on 19-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.           

Rategain Technologies: The stock trades near fresh 52-week high levels and jumped 4% on Friday. The volumes recorded in the recent period have been higher and show strong buying activity. The technical parameters indicate strong bullishness. We can expect a good momentum given the bullish technical setup.       

Grindwell Norton: After a slight pause, the scrip has seen renewed buying activity as it soared over 2% during Friday’s trading session. It trades above all the key moving averages and trades at the day’s high. The volume recorded on Friday is greater than the 30-day average volume. The momentum is likely to continue in the next trading session as well.  

Spandana Sphoorty Financial: The stock has surged over 2%, baked by rising volumes. It trades at a 5-day high and has formed a strong bullish bar on the technical chart. Moreover, the volume stood above average and indicate fresh buying interest. The stock has a good chance of producing upside momentum next week.