Stocks hitting new 52 week highs on October 18 are Harleysville Group Inc, and NetLogic Microsystems 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 Harleysville Group Inc (HGIC) had a total return adjusted 52 week high today of $59.08 per share and are currently trading at $59.18. The stock traded higher by 0.56% or $0.33/share to $59.18. The stock recorded a trading volume of 123899 today. This represents 1.8 times the average volume for Harleysville Group 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 NetLogic Microsystems Inc (NETL) had a total return adjusted 52 week high today of $48.67 per share and are currently trading at $48.74. The stock traded higher by 0.18% or $0.09/share to $48.74. The stock recorded a trading volume of 916185 today. This represents 0.69 times the average volume for NetLogic Microsystems 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.
