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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.
>>5 Big Stocks to Trade for Gains into 2012
That's why it's important to combine a number of technical indicators like volume, price, trend and momentum indicators such as RSI 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.
Synageva BioPharma(GEVA), a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutic products for patients with rare diseases and unmet medical needs. This stock is trading down 0.40% to $17.50 in recent trading, after it hit a 52-week high of $17.70 earlier today.
Today's Range: $17.50-$17.70
52-week Range: $8.30-$17.70
Three-Month Average Volume: 21,678
Synageva BioPharma has a market cap of $307.9 million This stock trades at a price-to-sales of 30.62. The current short interest as a percentage of the float for Synageva is notable at 4.8%.