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8 Stocks at New 52-Week Highs

RAM Energy Resources

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RAM Energy Resources (RAM) is an independent oil and natural gas company engaged in the acquisition, development, exploitation, exploration and production of oil and natural gas properties, primarily in Texas, Louisiana and Oklahoma. This stock is trading up 24.4% at $2.50 in recent trading after hitting a 52-week of $2.96 earlier in the day.

Today's Range: $1.93-$2.96

52-week Range: $0.60-$2.96

Volume: 10.9 million

Three-Month Average Volume: 337,350

RAM Energy Resources has a market cap of $180.08 million and an enterprise value of $359.33 million. The stock trades at a trailing price-to-earnings of 28.62 and a forward price-to-earnings of 38.17. Its estimated growth rate for the current quarter is 100%, and for this year it's pegged 700%. The current short interest as a percentage of the float for RAM Energy Resources is extremely low at 0.5%.

From a technical standpoint, RAM recently trigged a monster breakout when the stock traded above $1.28 to $1.30 on monster volume. This breakout has been so powerful that RAM has briefly flirted with another major breakout over $2.58 today.

That said, the stock is now flashing some extremely overbought conditions since the current relative strength index (RSI) reading is 90. Buying stocks with an RSI reading that is that high is rarely a great idea, since you've already missed much of the move and its way overbought. In the short-term I would avoid this name from the long side and lock in some profits if you have them.

For more on trading overbought (and oversold) stocks, check out " 7 Extreme Stocks to Trade in This Volatile Market."
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