Stocks hitting new 52 week highs on June 28 are Pegasystems Inc, Watson Pharmaceuticals Inc, Seattle Genetics Inc, Polycom, Inc, and Genesco Inc. Investors are buying the stock and pushing it higher because they may think that these stocks were undervalued. This could be a result of higher than expected earnings, overall market growth, or simply investor speculation.
Shares of Pegasystems Inc (PEGA) had a total return adjusted 52 week high today of $43.63 per share and are currently trading at $44.87. The stock traded higher by 3.41% or $1.48/share to $44.87. The stock recorded a trading volume of 51800 today. This represents 0.55 times the average volume for Pegasystems Inc. Lower than average volume can mean the new high may not represent the stock's true value. Investors may want to watch out for this stock adjusting back down to its true value.
Shares of Watson Pharmaceuticals Inc (WPI) had a total return adjusted 52 week high today of $66.00 per share and are currently trading at $67.69. The stock traded higher by 3.42% or $2.24/share to $67.69. The stock recorded a trading volume of 1184057 today. This represents 1.99 times the average volume for Watson Pharmaceuticals Inc. Higher than average volume can sometimes signal a technical breakout or perhaps that new information was released about the company. Volume is often used as a lie detector and high volume gives validity to the price move. Stay tuned for more updates on the company and investors may want to look for this momentum to continue.
Shares of Seattle Genetics Inc (SGEN) had a total return adjusted 52 week high today of $20.82 per share and are currently trading at $21.17. The stock traded higher by 3.02% or $0.62/share to $21.17. The stock recorded a trading volume of 746315 today. This represents 1.18 times the average volume for Seattle Genetics Inc. This is considered normal volume for the stock which means the new high is most likely caused by a steady uptrend. Expect the stock to continue its upward trend. A pullback could be a great opportunity to get onboard.
Shares of Polycom, Inc (PLCM) had a total return adjusted 52 week high today of $63.20 per share and are currently trading at $64.08. The stock traded higher by 2.04% or $1.28/share to $64.08. The stock recorded a trading volume of 808368 today. This represents 1.18 times the average volume for Polycom, Inc. This is considered normal volume for the stock which means the new high is most likely caused by a steady uptrend. Expect the stock to continue its upward trend. A pullback could be a great opportunity to get onboard.
Shares of Genesco Inc (GCO) had a total return adjusted 52 week high today of $52.51 per share and are currently trading at $53.33. The stock traded higher by 2.13% or $1.11/share to $53.33. The stock recorded a trading volume of 159045 today. This represents 1.1 times the average volume for Genesco Inc. This is considered normal volume for the stock which means the new high is most likely caused by a steady uptrend. Expect the stock to continue its upward trend. A pullback could be a great opportunity to get onboard.
