Stocks hitting new 52 week highs on October 19 are Mistras Group, Inc, Pinnacle West Capital Corporation, 1st Source Corporation, CenterPoint Energy, Inc, and The Chubb Corporation. 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 Mistras Group, Inc (MG) had a total return adjusted 52 week high today of $23.00 per share and are currently trading at $22.67. The stock traded higher by 0.85% or $0.19/share to $22.67. The stock recorded a trading volume of 167416 today. This represents 1.64 times the average volume for Mistras 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 Pinnacle West Capital Corporation (PNW) had a total return adjusted 52 week high today of $45.28 per share and are currently trading at $45.77. The stock traded higher by 1.55% or $0.70/share to $45.77. The stock recorded a trading volume of 220920 today. This represents 0.45 times the average volume for Pinnacle West Capital Corporation. 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 1st Source Corporation (SRCE) had a total return adjusted 52 week high today of $23.91 per share and are currently trading at $23.78. The stock traded higher by 0.08% or $0.02/share to $23.78. The stock recorded a trading volume of 30622 today. This represents 1.26 times the average volume for 1st Source 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 CenterPoint Energy, Inc (CNP) had a total return adjusted 52 week high today of $20.91 per share and are currently trading at $21.02. The stock traded higher by 1.42% or $0.29/share to $21.02. The stock recorded a trading volume of 1991925 today. This represents 0.83 times the average volume for CenterPoint Energy, 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 The Chubb Corporation (CB) had a total return adjusted 52 week high today of $65.17 per share and are currently trading at $65.49. The stock traded higher by 3.46% or $2.19/share to $65.49. The stock recorded a trading volume of 2034145 today. This represents 1.33 times the average volume for The Chubb 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.
