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Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.

Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.

There are several stocks that currently pass through the screen and TOPCON (TOPCF) is one of them. Here are the key reasons why this stock is a great candidate.

A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 7%, the stock of this company is certainly well-positioned in this regard.

While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. TOPCF meets this criterion too, as the stock gained 16.4% over the past 12 weeks.

Moreover, the momentum for TOPCF is fast paced, as the stock currently has a beta of 1.31. This indicates that the stock moves 31% higher than the market in either direction.

Given this price performance, it is no surprise that TOPCF has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.

In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped TOPCF earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up.

Most importantly, despite possessing fast-paced momentum features, TOPCF is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. TOPCF is currently trading at 0.95 times its sales. In other words, investors need to pay only 95 cents for each dollar of sales.

So, TOPCF appears to have plenty of room to run, and that too at a fast pace.