High momentum stocks to keep an eye on 23-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.      

Railtel Corporation: The stock has broken out from its falling trendline with above average volumes. It has surged 3% on Tuesday and trades above all its key moving averages. The stock has formed a bullish bar on the technical chart and is expected to trade higher in the upcoming session as well.

Suprajit Engineering: The scrip has soared over 3% during Tuesday’s trading session, supported by massive volume. It has registered a strong technical breakout from its consolidation pattern. Moreover, the technical indicators indicate strong strength as compared to the broader market. With the stock already trading at a day’s high, we can expect it to open gap-up in the next trading session.

Computer Age Management Services: The stock has soared nearly 3% for second consecutive day. It is in strong upside momentum lately, backed by huge volumes. It trades above its short-term moving averages and has formed a bullish bar 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.