7 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 Rocket Stocks to Buy This Earnings Season
That's why it's important to combine a number of technical indicators 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.
Intel
Semiconductor chip maker company
Intel
(INTC) - Get Report
is trading up 0.88% to $26.94 in recent trading after hitting a 52-week high of $26.96 earlier today.
Today's Range: $26.90-$26.96
52-week Range: $19.16-$26.89
Volume: 28 million
Three-Month Average Volume: 54 million
Intel has a market cap of $136 billion and an enterprise value of $127 billion. The stock trades at a trailing price-to-earnings of 11.27 and a forward price-to-earnings of 10.36. Its estimated growth rate for this year is 0.80%, and for next year it's pegged at 7.9%.
From a technical standpoint, INTC recently triggered a big breakout trade once the stock cleared some near-term overhead resistance levels at $25.78 to $26 on heavy volume. As long as this stock can continue to trend above those breakout levels, then traders should look for long-biased trades to ride the uptrend.
A potential target is $28 to $30 if INTC can continue to see solid volume and stay above $26.
Intel, one of
, shows up on lists of
Credit Suisse's 14 Ultimate Defensive Stock Picks
and
6 Tech Stocks to Avoid in 2012
.
Westport Innovations
Westport Innovations
(WPRT) - Get Report
is a provider of engine and fuel system technologies utilizing gaseous fuels. This stock is trading up 4.5% to $37.22 in recent trading after hitting a 52-week high of $37.95 earlier in the day.
Today's Range: $36.75-$37.95
52-week Range: $14.25-$36.10
Volume: 1.5 million
Three-Month Average Volume: 786,766
Westport Innovations has a market cap of $1.81 billion and an enterprise value of $1.70 billion. The stock trades at a price-to-sales of 8.46 and it trades at a price-to-book of 9.17. Its estimated growth rate for this quarter is 41.9%, and for the next quarter it's pegged at 32.3%.
From a technical standpoint, WPRT recently triggered a big breakout once the stock took out some past overhead resistance at $34.23 to $34.82 on solid volume. This move has now pushed WPRT into all-time high territory, which is very bullish price action.
Market players should continue to look for long biased trades as long as WPRT can continue to trend above $35 and see strong volume flows.
As of the most recently reported quarter, Westport is one of
.
Synopsys
Synopsys
(SNPS) - Get Report
is engaged in providing technology solutions used to develop electronics and electronic systems. This stock is trading up 0.09% at $29.29 in recent trading after hitting a 52-week high of $29.54 earlier in the day.
Today's Range: $29.33-$29.54
52-week Range: $21.37-$29.35
Volume: 382,000
Three-Month Average Volume: 920,753
Synopsys has a market cap of $4.25 billion and an enterprise value of $3.21 billion. The stock trades at a trailing price-to-earnings of 20.06 and a forward price-to-earnings of 13.65. Its estimated growth rate for this year is 10%, and for next year it's pegged at 9.1%.
From a technical standpoint, SNPS recently triggered a solid
once the stock took out some near-term overhead
at $28.05 on decent volume. Market players should now watch for a much bigger breakout trade to trigger if SNPS can manage to sustain a high-volume move or close above $29.35 to $30.
Look for volume that's near or above 920,753 shares if that level gets taken out in the near future. If we get that action, then look for long biased trades to play SNPS back towards its next significant overhead resistance at around $35 to $36.
Approach Resources
Approach Resources
(AREX) - Get Report
is an independent energy company engaged in the exploration, development, production and acquisition of oil and gas properties. This stock is trading up 4.1% at $35.20 in recent trading after hitting a 52-week high of $35.44 earlier in the day.
Today's Range: $34.61-$35.44
52-week Range: $14.14-$34.93
Volume: 332,000
Three-Month Average Volume: 515,732
Approach Resources has a market cap of $994 million and an enterprise value of $1.08 billion. The stock trades at a trailing price-to-earnings of 57.29 and a forward price-to-earnings of 32.97. Its estimated growth rate for this year is 76.9%, and for next year it's pegged at 53.6%.
From a
, AREX is starting to flirt with a big breakout trade now that this stock is challenging some past overhead resistance at $34.93. Market players should now watch for AREX to sustain a high-volume move or close above $34.93 to signal that this stock wants to trend much higher.
Look for volume that's near or well above 515,732 shares if we get a strong close over $34.93. This move in AREX has now pushed the stock into all-time high territory, which is bullish price and trend action. Traders should continue to look for long biased trades as long as the volume is solid and AREX is above $35.
Approach Resources shows up on a list of
.
Wal-Mart Stores
Retail store operator
Wal-Mart Stores
(WMT) - Get Report
is trading up 0.66% at $61.32 in recent trading after hitting a 52-week of $61.56 earlier in the day.
Today's Range: $61.25-$61.42
52-week Range: $48.31-$61.25
Volume: 3.8 million
Three-Month Average Volume: 9.7 million
Wal-Mart Stores has a market cap of $210 billion and an enterprise value of $260 billion. The stock trades at a trailing price-to-earnings of 12.99 and a forward price-to-earnings of 12.5. Its estimated growth rate for this year is 10.3%, and for next year it's pegged 9.4%.
From a technical standpoint, WMT recently broke out above $59.03 and $61.06 on light volume. The relative strength index (RSI) for WMT is now showing a 70 reading, which means the stock is overbought. Overbought can always get more overbought (see
BroadVision
(BVSN), but now WMT has a good chance to trend back towards its all-time highs that sit just under $65.
The only concern is the
breakout, but let the price action dictate your trades, not just the volume. As long as WMT can continue to trend above $61.06, then traders should look for long-biased trades.
Wal-Mart, another of
, shows up on a list of
10 Stocks Held by the Most Successful Fund Managers
.
Simon Property Group
Real estate company
Simon Property Group
(SPG) - Get Report
is trading up 1.08% at $133.06 in recent trading after hitting a 52-week of $133.09 earlier in the day.
Today's Range: $132.55-$133.09
52-week Range: $99.04-$132.62
Volume: 685,000
Three-Month Average Volume: 1.66 million
Simon Property Group has a market cap of $38.9 billion and an enterprise value of $56.8 billion. The stock trades at a trailing price-to-earnings of 44.43 and a forward price-to-earnings of 18.25. Its estimated growth rate for this year is 37.1%, and for next year it's pegged at 5.8%.
From a technical standpoint, SPG has started to flirt with a major breakout trade today now that this stock is moving above some near-term overhead resistance at $132.29. This move by SPG today is now pushing the stock into breakout territory and all-time high territory, which is bullish price action.
At last check, the volume is a bit on the light side, so make sure to see how volume looks at the close. I would consider it bullish if SPG closes near its daily highs and if volume is close to or above 1.65 shares.
That said, if the volume doesn't finish strong, I would still look for long-biased trades if SPG continues to trend over $132.29.
SPG shows up on a list of
10 Stocks Gloomy Goldman Sachs Is Bullish On
and was featured recently in "
5 Rocket Stocks That Could Rally
."
Monster Beverage
Monster Beverage
(MNST) - Get Report
develops markets, sells and distributes alternative beverage. This stock is trading up 0.69% at $105.72 in recent trading after hitting a 52-week of $105.75 earlier in the day.
Today's Range: $104.81-$105.66
52-week Range: $53.28-$105.71
Volume: 370,000
Three-Month Average Volume: 914,619
Monster Beverage has a market cap of $9.17 billion and an enterprise value of $8.44 billion. The stock trades at a trailing price-to-earnings of 36.32 and a forward price-to-earnings of 28.32. Its estimated growth rate for this year is 36%, and for next year it's pegged at 20%.
From a technical standpoint, MNST recently
triggered a big breakout trade
once the stock took out some past overhead resistance at $98.36 on decent volume. This move has now pushed MNST into all-time-high territory, which is bullish price action.
That said, the relative strength index (RSI) reading is now 71, which indicates an overbought condition. Overbought can always get more overbought, but any reading above 70 is always worth noting.
Traders should continue to look for long-biased trades in MNST as long as the stock remains above $100 and volume continues to track in strong. Just be cautious of any reversals since this name has run-up so much in the last six months.
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.
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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.
