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 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.That's why it's important to combine a number of technical indicators like volume, price, trend and momentum indicators such as relative strength (RSI) before you make an investing or trading decision. Combine all of those things with fundamental trends, discipline 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.
Volume: 14,000,000 Three-Month Average Volume: 1,244,130 Pharmasset has a market cap of $10.15 billion and an enterprise value of $5.33 billion. Its estimated growth rate for this year is -34.4%, and for next year it's pegged at -15.5%. The current short interest as a percentage of the float for Pharmasset sits at 5.6%. This stock is exploding higher today after Gilead Sciences (GILD) said it had agreed to buy Pharmasset in a deal valued at around $11 billion. Gilead said it will pay $137 a share for Pharmasset.