Every investor wishes to have a magical portfolio of stocks with a one way ticket to success. But this is easier said than done. And when the market is as volatile as it is now, things may take a turn for the worse any moment.

No matter how disciplined and systematic investors are, equity market volatility will always manage to get the better of them. While a few lucky ones rake in the moolah, others fall victim to ad hoc strategies.

One could resort to commonly used techniques to find beaten down stocks that have the potential to recover faster than others. However, even such investment choices bear the risk of disappointment. Particularly, one could be stuck in a value trap if the hidden weaknesses in selected stock are not identified.

So, wouldn’t it be a safer strategy to look for stocks that are winners currently and have the potential to gain further?

Here’s how to execute it:

One should primarily look for stocks that are witnessing price increase. Actually, stocks seeing price strength recently have a high chance of carrying the momentum forward.

If a stock is continuously moving higher, there must be a good reason for the rise or else it probably would have fallen like the losers. So, looking at stocks that have already won the game and are capable of beating the benchmark that they have set is rational.

However, recent price strength alone cannot create magic, so you need to set other relevant parameters to create a successful investment strategy.

Here’s how you should create the screen to shortlist the current as well as the potential winners.

Screening Parameters:

Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.

Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.

Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.

Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock’s future performance.

Current Price greater than 5: The stocks must all be trading at a minimum of $5.

Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.

Here are five of the 11 stocks that made it through this screen:

Enzo Biochem, Inc. (ENZ - Free Report) develops, manufactures and markets healthcare products based on molecular biology and genetic engineering techniques, and also provides diagnostic services to the medical community. Last quarter, the company delivered a positive earnings surprise of 100%.

Commercial Vehicle Group, Inc. (CVGI - Free Report) supplies interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market. Last quarter, the company had posted earnings of 8 cents per share, while our expectation was of a breakeven.

Federal Signal Corporation (FSS - Free Report) is a manufacturer and worldwide supplier of safety, signaling and communications equipment, hazardous area lighting, fire rescue products, street sweeping and vacuum loader vehicles, parking control equipment, custom on-premise signage, carbide cutting tools, precision punches and related die components. Last quarter, the company delivered a positive earnings surprise of 16.7%.

Sotheby's (BID - Free Report) is one of the world's leading auctioneers of fine arts, antiques and collectibles, paintings, jewelry, decorative arts, and books. Last quarter, the company delivered a positive earnings surprise of 46.2%.

Modine Manufacturing Company (MOD - Free Report) operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. Last quarter, the company delivered a positive earnings surprise of 2.9%.