High momentum stocks to keep an eye on 18-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.             

Century Textiles: The stock has broken out from its ascending triangle pattern during Thursday’s trading session, which is deemed bullish over the short term. It rose nearly 3% backed by huge volume and shows strong buying interest. Moreover, the technical parameters also show strong strength. With the stock already trading at a day’s high, we can expect a good movement from here on.   

Cholamandalam Holdings: The scrip is in a steady uptrend, having soared over 3% on Thursday. The volumes have been above average and greater than the 30-day average volume.  It has formed a strong bullish bar and trades at 52-week high levels. momentum is likely to continue in the next trading session as well.   

Ceat Ltd: The stock trades near the 124-week cup pattern breakout level. It has jumped 3% today, backed by good buying sentiment.  In the short term, it has broken out from the narrow consolidation zone. It trades above all the key moving averages. The bullish bias is very well reflected in its price action, and thus, we expect the stock to outperform the broader market in times to come.