Stock Markets Analysis and Opinion

Momentum: Stock Gains 12% This Week as it Heads Towards Higher Levels

2024.04.30 01:53

As the broader market continues to surge to higher levels with the benchmark index gaining 89 points to 22,732, by 10:16 AM IST, smaller pockets are also enjoying investors’ attention.

One counter that’s making a move since the beginning of this week is Prime Focus Ltd (NS:). It engages in the motion picture, video, and television program post-production activities and has a market capitalization of INR 3,209 crore.

The stock came on my radar through the “Stocks on the Rise” screener in InvestingPro+. It has gained 12.5% this week so far, including today’s 5.5% rally to INR 113 and has crossed its hurdle of INR 110.

When looking at the financial health score in InvestinrPro+, a rating of 3 out of 5 is sufficient to consider it for further analysis. Had it been 2 or less, we probably would have discarded it from our investment decision.

Momentum: Stock Gains 12% This Week as it Heads Towards Higher Levels

Image Source: InvestingPro+

Another important factor to take a note of when trading momentum stocks is the valuation status. If the stock has already crossed its intrinsic value and become overvalued, then there is a high risk in capitalizing on that momentum.

Here, the fair value of Prime Focus shares is INR 142.5 per share, depicting a healthy 27.8% upside potential from the CMP. this is what we look for when trading high-momentum stocks. In other words, when an undervalued stock picks up momentum, that’s where big money lies.

You can find such high-momentum undervalued stocks in the blink of an eye using the InvestingPro+ screener. For you, InvestingPro+ is currently available at a steep discount of up to 69%, for INR 526/month. Click here to start racking up decent profits with momentum stocks!

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.

X (formerly, Twitter) – Aayush Khanna



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 79,563.32 7.16%
ethereum
Ethereum (ETH) $ 2,113.02 9.62%
tether
Tether (USDT) $ 0.999113 0.01%
xrp
XRP (XRP) $ 2.02 8.67%
bnb
BNB (BNB) $ 570.00 7.35%
solana
Solana (SOL) $ 127.02 8.78%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.186628 9.96%
cardano
Cardano (ADA) $ 0.59098 10.71%
staked-ether
Lido Staked Ether (STETH) $ 2,112.92 9.46%
tron
TRON (TRX) $ 0.218577 4.14%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 79,640.34 6.87%
litecoin
Litecoin (LTC) $ 118.58 5.02%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,526.69 9.31%
chainlink
Chainlink (LINK) $ 13.75 10.02%
leo-token
LEO Token (LEO) $ 9.21 1.44%
avalanche-2
Avalanche (AVAX) $ 20.43 9.00%
stellar
Stellar (XLM) $ 0.260806 10.10%
the-open-network
Toncoin (TON) $ 3.16 8.91%
sui
Sui (SUI) $ 2.54 13.18%
hedera-hashgraph
Hedera (HBAR) $ 0.184819 7.49%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 9.16%
usds
USDS (USDS) $ 1.00 0.04%
mantra-dao
MANTRA (OM) $ 7.21 1.72%
polkadot
Polkadot (DOT) $ 4.53 6.92%
hyperliquid
Hyperliquid (HYPE) $ 18.75 9.25%
weth
WETH (WETH) $ 2,116.99 9.34%
ethena-usde
Ethena USDe (USDE) $ 0.999049 0.02%
bitcoin-cash
Bitcoin Cash (BCH) $ 273.29 8.02%
bitget-token
Bitget Token (BGB) $ 3.85 4.73%
uniswap
Uniswap (UNI) $ 7.24 10.33%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,244.22 9.37%
monero
Monero (XMR) $ 211.45 1.72%
whitebit
WhiteBIT Coin (WBT) $ 25.78 2.35%
aptos
Aptos (APT) $ 5.70 6.79%
near
NEAR Protocol (NEAR) $ 2.81 8.08%
dai
Dai (DAI) $ 0.999885 0.03%
pepe
Pepe (PEPE) $ 0.000007 12.19%
susds
sUSDS (SUSDS) $ 1.04 0.12%
internet-computer
Internet Computer (ICP) $ 6.13 6.22%
ondo-finance
Ondo (ONDO) $ 0.892313 10.26%
aave
Aave (AAVE) $ 184.04 10.57%
ethereum-classic
Ethereum Classic (ETC) $ 17.86 5.61%
okb
OKB (OKB) $ 43.07 4.74%
bittensor
Bittensor (TAO) $ 300.47 17.61%
gatechain-token
Gate (GT) $ 19.68 8.11%
mantle
Mantle (MNT) $ 0.707843 6.89%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.69 1.94%
official-trump
Official Trump (TRUMP) $ 11.28 16.09%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 79,624.33 6.98%