Stocks hitting new 52 week highs on August 24 are Advisory Board Co, McDonald's Corp, and Multi-Color Corp. 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 Advisory Board Co (ABCO) had a total return adjusted 52 week high today of $60.47 per share and are currently trading at $59.91. The stock fell by 0.53% or $-0.32/share to $59.91. The stock recorded a trading volume of 23955 today. This represents 0.65 times the average volume for Advisory Board Co. 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 McDonald's Corp (MCD) had a total return adjusted 52 week high today of $89.57 per share and are currently trading at $89.30. The stock fell by 0.26% or $-0.23/share to $89.30. The stock recorded a trading volume of 3458096 today. This represents 1.04 times the average volume for McDonald's Corp. 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 Multi-Color Corp (LABL) had a total return adjusted 52 week high today of $27.93 per share and are currently trading at $27.45. The stock traded higher by 1.10% or $0.30/share to $27.45. The stock recorded a trading volume of 57546 today. This represents 2.23 times the average volume for Multi-Color Corp. 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.
