When you see a stock that's hitting new 52-week highs, it often means that the uptrend is very strong and the buyers are in full control (and the opposite for stocks setting new 52-week lows), momentum traders and often look at the 52-week-high lists to find new trading ideas. Keep in mind, though, that new highs can also mean that the stock is overbought or has run up too far too fast.
See if (REXX) is in our portfolio
>>5 Stocks Under $10 Setting Up to SoarThat's why it's important to combine a number of technical indicators like volume, price, trend and momentum indicators such as relative strength before you make an investing or trading decision. Combine all of those things with fundamental trends, disciple and sound money management and you will be well on your way to investment success. Let's take a closer look at several stocks that hit new 52-week highs today.
Rex Energy Content on this page requires a newer version of Adobe Flash Player.
Rex Energy(REXX) is an independent oil and gas company operating in the Appalachian Basin and the Illinois Basin. In the Appalachian Basin, the company is focused on the Marcellus Shale drilling projects. This stock is trading up 1% to $16.76 in recent trading, after it hit a 52-week high of $17.11 earlier today.
Today's Range: $16.48-$17.1152-week Range: $9.67-$17.11Volume: 882,300Three-Month Average Volume: 1,160,380Rex Energy has a market cap of $745.41 million and an enterprise value of $790.65 million. The stock trades at a forward price-to-earnings of 52.50. Its estimated growth rate for next quarter is 133.3%, and for next year it's pegged at 23.1%. The current short interest as a percentage of the float for Rex Energy is extremely large at 30.8%. From a technical standpoint, this stock has triggered a major breakout today now that shares have started to move above some near-term overhead resistance at $16.50. Market players should watch to see how this stock closes, and if the volume can get closer to the three-month average of 1.16 million, with shares trading over $16.50. If we get that close, then look for the stock to potentially make a run at its next significant overhead resistance level of close to $22 a share.
DRDGold Content on this page requires a newer version of Adobe Flash Player.
DRDGold(DROOY) is a South African gold mining company engaged in underground and surface gold mining, including exploration, extraction, processing and smelting. This stock is trading up 1.7% to $6.84 in recent trading after hitting a 52-week high of $7.03 earlier in the day.
Today's Range: $6.86-$7.0352-week Range: $4.21-$7.03Volume: 214,300Three-Month Average Volume: 149,938DRDGold has a market cap of $264.03 million and an enterprise value of $241.21 million. The stock trades at a price-to-book of 1.60 and a price-to-sales of 0.78. >>6 Gold & Silver Stocks for the Eurozone Debt CrisisFrom a technical standpoint, this stock is triggering a big breakout today now that shares are moving above some near-term overhead resistance at $6.88 a share on solid volume. Traders should now watch for a sustained move and close above $6.88 to signal that DROOY wants to trend higher. I would target a run towards its next significant overhead resistance levels at $7.70 to $8.70 if the bulls gain full control of this stock.
Starbucks Content on this page requires a newer version of Adobe Flash Player.
Starbucks(SBUX) is the roaster and retailer of specialty coffee in the world, operating in more than 50 countries. This stock is trading up 6.8% at $44.23 in recent trading after hitting a 52-week high of $44.69 earlier in the day.
Today's Range: $42.67-$44.6952-week Range: $29.45-$44.69Volume: 9.89Three-Month Average Volume: 8.50 millionStarbucks has a market cap of $33 billion and an enterprise value of $29.49 billion. The stock trades at a trailing price-to-earnings of 29.08 and a forward price-to-earnings of 24.30. Their estimated growth rate for this year is 18.8% and for next year it's pegged at 19.7%. The current short interest as a percentage of the float for Starbucks is low at 2.1%. This stock is gapping up today after the company reported sales growth that came in ahead of Wall Street expectations and a 29% jump in profits as spending increased by its U.S. customers. The company also increased its dividend by 31% to 17 cents per share and said it would buyback an additional 20 million shares. From a technical standpoint, this stock is now triggering a big breakout over some near-term overhead resistance of $43.43 on solid volume. This is a major technical move for Starbucks because it now marks an all-time high on the stock. Traders should look to play this breakout from the long side if SBUX can sustain a move and close above $43 a share. This stock could still have tremendous upside from here, since the trend is so strong with shares making new highs. Starbucks is one of TheStreet Ratings' top-rated restaurant and hotel stocks.
Appliance Recycling Centers of America Content on this page requires a newer version of Adobe Flash Player.
Appliance Recycling Centers of America(ARCI) is engaged in the business of selling new household appliances through a chain of company-owned factory outlet stores under the name ApplianceSmart. This stock is trading up 17% at $6.60 in recent trading as it hits new daily highs at last check.
Today's Range: $5.88-$6.6052-week Range: $2.84-$6.60Volume: 205,300Three-Month Average Volume: 16,344Appliance Recycling has a market cap of $33.94 million and an enterprise value of $45.77 million. The stock trades at a trailing price-to-earnings of 9.10 and a forward price-to-earnings of 8.03. The current short interest as a percentage of the float for Appliance is a very low 0.2%.>>5 Black Friday Short-Squeeze Stocks for 2011This stock is gapping up today after the company reported strong third quarter results on Thursday night that showed a 122% jump in third quarter income to $2.9 million from $1.3 million in the same period last year. From a technical standpoint, this stock is triggering a major breakout now that shares have cleared some past overhead resistance at $6 on monster volume. Traders should watch for ARCI to now make a run at its next significant resistance level of $7.50 a share if the stock can close over $6 today.
Maxwell Technologies Content on this page requires a newer version of Adobe Flash Player.
Maxwell Technologies(MXWL) develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications. This stock is trading up 9.9% to $21.13 in recent trading after hitting a 52-week high of $21.49 earlier in the day.
Today's Range: $18.97-$21.4952-week Range: $13.78-$21.49Volume: 440,100Three-Month Average Volume: 235,392Maxwell has a market cap of $591.29 million and an enterprise value of $508.44 million. The stock trades at a forward price-to-earnings of 36.71. Its estimated growth rate for this year is 130.4% and for next year it's pegged at 728.6%. The current short interest as a percentage of the float for Maxwell is rather large at 12%. This stock is ripping higher today after the company reported revenue of $41.1 million for the third quarter, which is up 31% over the $31.5 million it reported in the same period last year. From a technical standpoint, this stock is triggering a major breakout off today's move now that shares are moving above some past overhead resistance at $20.49 on big volume. This stock now sets up to trend higher and re-test its next significantly overhead resistance levels near $22 to $24 a share. Traders should look to play this stock from the long side as long as it sustains a move and close above that breakout level at $20.49. >>Stocks Rising on Unusual Volume
InnerWorkings Content on this page requires a newer version of Adobe Flash Player.
InnerWorkings(INWK) is a provider of managed print and promotional procurement solutions to corporate clients across a range of industries. This stock is trading up 5% at $9.77 in recent trading after hitting a 52-week of $9.89 earlier in the day.
Today's Range: $9.30-$9.8952-week Range: $6.07-$9.89Volume: 353,600Three-Month Average Volume: 184,091InnerWorkings has a market cap of $454.11 million. The stock trades at a trailing price-to-earnings of 37.91. The current short interest as a percentage of the float for InnerWorkings is very large at 20.6%. This stock is ripping higher today after the company raised its 2011 revenue guidance from a range of $600 million to $625 million to a range of $620 million to $635 million and raised its 2011 earnings per share guidance from a range of 29 cents to 32 cents per share to a range of 30 cents to 33 cents per share. From a technical standpoint, this stock is triggering a major breakout today now that shares are moving above some near-term overhead resistance at around $9.67 a share on heavy volume. Traders should now look for INWK to continue this uptrend with a close above $9.67. I would target a run back towards the next significant overhead resistance level which sits at $12 to $16 a share. Follow Stockpickr on Twitter and become a fan on Facebook.
>To order reprints of this article, click here: Reprints
No comments:
Post a Comment