High momentum stocks to keep an eye on 26-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.             

Crisil: The stock has broken out from its triangle pattern with good volumes as it soared over 3% on Friday. It is in a strong uptrend and has formed higher highs and higher lows on the technical chart. 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.        

Cummins India: The stock has broken out from its 10-week cup pattern. It surged over 4% during Friday’s trading session and witnessed above-average volumes. It has marked a fresh lifetime high level on the exchanges. Such momentum is likely to continue in the next trading session as well.            

Schneider Electric Infrastructure: The scrip witnessed a fantastic rally of 4% on Friday and currently trades at its fresh 52-week high level. Interestingly, the stock now trades at the breakout level of its multiyear cup pattern. The volumes stood massive and Multifold, thus showing renewed buying sentiment in the stock. Considering the bullish technical setup, we expect the stock to outperform the broader market in times to come.