The best way to achieve investing success is to buy and hold a wide range of top-quality companies when they trade at a discount to their true valuations. This is the classic approach used by value investors who use fundamental research to identify and then buy undervalued shares.

Other traders prefer to let the market tell them what to do by employing a momentum style of short-term trading with almost no regard to a stock’s valuation. This type of technical trading largely relies on using periodical moving averages to provide buy or sell signals as stocks break 10,20,30,50,100 or 200-day moving averages to the up or downside. The shorter the moving average the shorter the period of time a trader is likely to hold a stock.

When stocks break longer term moving averages due to strong fundamentals they can really fly as hot money then also flows into them in the pursuit of a quick profit. However, investors should be careful buying these stocks as they can reverse course quickly when fundamental or technical investors look to book profits at the same time. Below I have seven stocks on the march that may or may not offer good fundamental value to investors.

Vita Group Limited (ASX: VTG) is the telco store operator that has seen its shares triple in value over just the last year to smash through just about every moving average possible. Selling for $5.27 it’s probably around fair value now given it’s on 24x analysts’ estimates for FY17 earnings and the stock looks a hold in my opinion.

Trade Me Group Ltd (ASX: TME) is a hot digital growth stock that dominates the online classifieds space across multiple sectors like employment, real estate, automobiles and the trade in second-hand goods across New Zealand. The stock is up 75% over the last year and selling for $5.65 on 27x analysts’ estimates of FY17’s earnings it looks expensive and a hold at best.

iSentia Group Ltd (ASX: ISD) is another business that will soon be coming onto the screens of momentum-style investors after it recently posted stronger-than-expected full year earnings results. This media monitoring business currently sells for $3.90, which on a fundamental basis looks reasonable value and I expect it could post a strong finish to 2016.

Altium Limited (ASX: ALU) is the Internet of Things software business that has seen its shares rise 50% over the last three months and 32% since it reported its full year results on August 24. This stock has really gone gangbusters and is probably due to take a breather based on the fundamentals.

XERO FPO NZ (ASX: XRO) is the cloud accounting specialist that is a tricky business to value due to the unknowns around how strongly it can keep growing around the world due to the competitive environment in which it operates. Its 60% rise over the past year will also see it on the screens of technical traders, while value investors remain split over its earnings growth potential. Today the stock sells for $19.60 and given the financials it remains high up the risk scale, although arguably remains a buy given its growth trajectory and outlook.

Domino’s Pizza Enterprises Ltd. (ASX: DMP) is a classic momentum stock as it has almost doubled in value over the course of the past year to reach a market value of more than $6.5 billion. Selling for $74.40 it trades on around 55x analysts’ estimates for FY17’s earnings, which is sky high for a pizza delivery business. The stock looks ripe for a tumble on any hint of disappointment regarding its margin-widening European growth project.

Webjet Limited (ASX: WEB) is another digital growth business that is flying thanks to the powerful combination of acquisitive and organic growth driving its revenues and profits higher. The stock has tripled in value over the course of the past year as it comes on the screens of momentum traders and index funds alike after qualifying to join the S&P/ASX 200. Today it sells for $10.30 on around 25x analysts’ estimates for earnings per share. In my opinion it looks a hold at best.

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Motley Fool contributor Tom Richardson owns shares of Altium, Webjet Ltd., and Xero.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia owns shares of Altium and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.