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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.
That's why it's important to combine a number of technical indicators such as 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.
SonoSiteSonoSite(SONO) specializes in the development of hand-carried ultrasound systems for use in a variety of medical specialties in a range of clinical settings. This stock is trading down 0.21% to $42.37 in recent trading after it hit a 52-week high of $43.00 earlier today.
Today's Range: $42.34-$43.00
52-week Range: $25.74-$43.00
Three-Month Average Volume: 212,383
SonoSite has a market cap of $595.57 million and an enterprise value of $622.02 million. This stock trades at a trailing price-to-earnings of 95.81 and a forward price-to-earnings of 28.30. Its estimated revenue growth for this year is 12.1%, and for next year it's pegged at 104.1%.
From a technical standpoint, this stock is approaching a big breakout today with shares flirting with some past overhead resistance at $42.70. Market players should now watch for a sustained move and close on high-volume above $42.70 to signal that this stock wants to trend much higher. So far today the volume isn't there, so watch how the stock closes.
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