A number of studies have found that better (or poorly)performing shares continue to perform well (poorly)in the medium term.This effect is termed the:

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The momentum effect refers to the tendency for stocks that have performed well (or poorly) in the recent past to continue to perform well (or poorly) in the future. This phenomenon has been documented in a number of academic studies and is considered to be a persistent anomaly in financial markets, as it challenges the efficient market hypothesis. The other options, book-to-market and price/earnings effects, refer to different factors that have been found to influence stock returns, but they are not directly related to the momentum effect.

A Number of Studies Have Found That Better (Or Poorly)performing