6 Stocks at New 52-Week Highs
WINDERMERE, Fla. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are hitting new 52-week highs and 52-week lows.
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),
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.
>>5 Stocks Set to Soar on Bullish Earnings
That's why it's important before you make an investing or trading decision to combine a number of technical indicators with fundamental trends, discipline and sound money management.
Let's take a closer look at several
stocks that hit new 52-week highs today
.
UnitedHealth Group
UnitedHealth Group
(UNH) - Get Report
is a diversified health and well-being company. This stock is trading up 0.59% at $54.18 in recent trading after hitting a 52-week of $54.41 earlier in the day.
Today's Range: $53.60-$54.41
52-Week Range: $41.27-$54.24
Volume: 3.4 million
Three-Month Average Volume: 6.7 million
UnitedHealth Group has a market cap of $58.27 billion and an enterprise value of $57.52 billion. The stock trades at a trailing price-to-earnings of 11.46 and a forward price-to-earnings of 9.96. Its estimated growth rate for this year is 1.50%, and for next year it's pegged at 13.3%. The current short interest as a percentage of the float for UnitedHealth Group is rather low at just 1.10%.
From a
, UNH has started to trigger a big breakout trade today now that this stock is moving above some past overhead resistance at $53.14.
Traders should now look for a sustained high-volume move and close above $53.14 to signal that UNH wants to trend much higher. Look for volume that's near or above 6.7 million shares. If we get that move today or soon, then target a run back towards $60 for UNH in the near future.
Affymax
Affymax
(AFFY)
is a biopharmaceutical company developing drugs to improve the treatment of serious and often life-threatening conditions. This stock is trading up 5.8% to $11.29 in recent trading after hitting a 52-week high of $11.36 earlier today.
Today's Range: $10.63-$11.36
52-Week Range: $3.93-$11.13
Volume: 1.2 million
Three-Month Average Volume: 1.7 million
Affymax has a market cap of $397 million and an enterprise value of $266 million. The stock trades at a price-to-sales of 7.51 and a price-to-book of3.69. Its estimated growth rate for this year is -191.2%, and for next year it's pegged at 61.4%. The current short interest as a percentage of the float for Affymax is notable at 10.3%.
>>6 Drug Stocks Unworthy of Biotech Bull Market
From a technical perspective, AFFY recently
once the stock moved above some past overhead resistance at $8.45 to $8.58 on solid volume. That move has pushed AFFY into a major gap down zone from back in 2010 between $24 and just under $10 a share.
I expect AFFY to continue fill that gap, but the stock is starting to get overbought in the short-term. The current relative strength index (RSI) reading for AFFY is now 80.83, which indicates an overbought condition. Overbought doesn't mean it can't continue to trend higher, and AFFY is now breaking out over some near-term overhead resistance at $11.13.
Traders should look for shorter-term long biased trades above $11.13, or look for a better longer-term entry points after AFFY works off some it's short-term overbought condition.
Halozyme Therapeutics
Halozyme Therapeutics
(HALO) - Get Report
is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the diabetes, cancer, dermatology and drug delivery markets. This stock is trading up 2% to $11.47 in recent trading after hitting a 52-week high of $11.69 earlier in the day.
Today's Range: $11.24-$11.69
52-Week Range: $5.54-$11.62
Volume: 719, 000
Three-Month Average Volume: 730,679
Halozyme Therapeutics has a market cap of $1.18 billion and an enterprise value of $1.09 billion. The stock trades at a price-to-sales of 20.27 and a price-to-book of 42.9. Its estimated growth rate for this year is 71.4%, and for the next year it's pegged at -193.7%. The current short interest as a percentage of the float for Halozyme stands at 5.8%.
From a technical perspective, HALO is very close to triggering a
if this stock can manage to sustain a
and close above some near-term overhead resistance at $11.62.
At last check, the stock hit $11.69 at the highs of the day, and volume is very close to the average daily action. If we get a close over $11.62 today or soon with strong volume, then I would continue to look for long biased trades.
I also featured Halozyme recently in "
5 Stocks Setting Up to Break Out
."
Home Depot
Home Depot
(HD) - Get Report
is a home improvement retailer. This stock is trading off 0.26% at $45.81 in recent trading after hitting a 52-week high of $46.21 earlier in the day.
Today's Range: $45.75-$46.21
52-week Range: $28.17-46.11
Volume: 4.15 million
Three-Month Average Volume: 10.41 million
Home Depot has a market cap of $70.6 billion and an enterprise value of $79.35 billion. The stock trades at a trailing price-to-earnings of 19.74 and a forward price-to-earnings of 16.59. Its estimated growth rate for this year is 17.7%, and for next year it's pegged at 15.1%. The current short interest as a percentage of the float for HD is very low at 1.5%.
From a technical perspective, HD has pushed into 52-week-high territory today on very light volume. I have a hard time trusting that HD is going to continue its uptrend if the volume doesn't start to improve.
That said, as long as HD can hold above some near-term
at $45 to $44, then I would continue to look for long-biased trades. The next major overhead resistance level sits at $50, so look for HD to tag that in the near future if $45 to $44 can hold up as support.
Home Depot is one of the
highest-yielding retail stocks
.
On Assignment
On Assignment
(ASGN) - Get Report
is a diversified professional staffing firm providing flexible and permanent staffing solutions in specialty skills, including laboratory/scientific, healthcare/nursing/physician, medical financial, information technology and engineering. This stock is trading up 13.7% at $13.58 in recent trading after hitting a 52-week of $13.64 earlier in the day.
Today's Range: $12.20-$13.64
52-Week Range: $6.27-$12.43
Volume: 788,000
Three-Month Average Volume: 201,919
On Assignment has a market cap of $501 million and an enterprise value of $515 million. The stock trades at a trailing price-to-earnings of 163.86 and a forward price-to-earnings of 19.15. Its estimated growth rate for this year is 233.3%, and for next year it's pegged at 18.3%. The current short interest as a percentage of the float for On Assignment is pretty low at just 3.9%.
From a technical perspective, ASGN is trigging a big breakout trade today now that this stock has moved above some major overhead resistance at $11.90 to $11.94 on monster volume.
Traders should continue to look for long biased trades in ASGN as long as the stock is trending above those breakout levels and closing near its daily highs.
On Assignment was also recently featured in "
Top 4 Staffing Stocks for an Improving Economy
."
Body Central
Body Central
(BODY)
is a specialty retailer of young women's apparel and accessories operating retail stores in the South, Mid-Atlantic and Midwest regions of the U.S. This stock is trading up 2.8% at $27.39 in recent trading after hitting a 52-week high of $27.99 earlier in the day.
Today's Range: $26.80-$27.99
52-Week Range: $14.61-$27.24
Volume: 440,000
Three-Month Average Volume: 147,734
Body Central has a market cap of $439 million and an enterprise value of $394 million. The stock trades at a trailing price-to-earnings of 26.86 and a forward price-to-earnings of 18.32. Its estimated growth rate for this year is 48.8%, and for next year it's pegged at 23%. The current short interest as a percentage of the float for Body Central stands at 10.4%.
From a technical perspective, BODY is triggering a major breakout trade today now that this stock is moving above some past overhead resistance at $26.89 on monster volume. This move has now pushed BODY into all-time high territory, which is bullish price action.
Traders should continue to look for long biased trades as long as BODY continues to trend above $26.89 with strong volume. In the very short-term, look for BODY to tag $30.
To see more stocks hitting new 52-week highs today, check out the
Stocks Hitting New 52-Week Highs
portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
RELATED LINKS:
>>5 Stocks to Benefit From an Improving Economy
>>7 Dividend Stocks Hiking Payouts
>>5 Stocks to Trade for Breakout Gains
Follow Stockpickr on
and become a fan on
Facebook.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
