Stocks hitting new 52 week highs on July 1 are Golar LNG Partners LP, Questcor Pharmaceuticals, Inc, TransDigm Group Incorporated, Ascent Media Corporation, and Robbins & Myers 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 Golar LNG Partners LP (GMLP) had a total return adjusted 52 week high today of $28.83 per share and are currently trading at $29.41. The stock traded higher by 3.19% or $0.91/share to $29.41. The stock recorded a trading volume of 56327 today. This represents 0.31 times the average volume for Golar LNG Partners LP. 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 Questcor Pharmaceuticals, Inc (QCOR) had a total return adjusted 52 week high today of $24.93 per share and are currently trading at $25.69. The stock traded higher by 6.60% or $1.59/share to $25.69. The stock recorded a trading volume of 626826 today. This represents 1.29 times the average volume for Questcor Pharmaceuticals, 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 TransDigm Group Incorporated (TDG) had a total return adjusted 52 week high today of $91.31 per share and are currently trading at $93.17. The stock traded higher by 2.17% or $1.98/share to $93.17. The stock recorded a trading volume of 234140 today. This represents 1.87 times the average volume for TransDigm Group Incorporated. 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 Ascent Media Corporation (ASCMA) had a total return adjusted 52 week high today of $53.05 per share and are currently trading at $54.43. The stock traded higher by 2.76% or $1.46/share to $54.43. The stock recorded a trading volume of 29606 today. This represents 1.3 times the average volume for Ascent Media Corporation. 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 Robbins & Myers Inc (RBN) had a total return adjusted 52 week high today of $53.00 per share and are currently trading at $54.00. The stock traded higher by 2.18% or $1.15/share to $54.00. The stock recorded a trading volume of 175663 today. This represents 0.72 times the average volume for Robbins & Myers 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.
