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Above is an appropriate old song for today's subject by Althea & Donna provided for your enjoyment if you are not old enough to have come across it as it was out originally in the 70's. Below is is a great free video presentation by Ed Croft from Stockopedia which explains the background to and the uses of their StockRanks. These focus on identifying good, cheap stocks with improving fundamentals or Quality, Value and Momentum. Apologies if you are already a Stockopedia subscriber who uses them, but if you are and are not familiar with them then the presentation is worth checking out to gain a greater understanding.
if you are not already a Stockopedia subscriber I would highly recommend it to you at it is a great source of information and an aid to identifying attractive stocks for further research. Their Stock reports give a good overview of stocks and they have plenty of guru screens or you can set up your own customs screens, all very useful. They currently cover UK and European stocks and are about to introduce coverage of US stocks, although their is a separate subscription required for each geographic region.
See the end of the presentation for discount codes and click the highlighted link above if you want more information and to sign up for a free trial after watching the video. In the interests of full disclosure if you use the link above I'll get a some credit for it too.