Stocks hitting new 52 week highs on October 31 are Spreadtrum Communications Inc, Under Armour, Inc, Deckers Outdoor Corp, Questcor Pharmaceuticals, Inc, and Nike 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 Spreadtrum Communications Inc (SPRD) had a total return adjusted 52 week high today of $25.99 per share and are currently trading at $26.01. The stock traded higher by 0.50% or $0.13/share to $26.01. The stock recorded a trading volume of 372259 today. This represents 1.37 times the average volume for Spreadtrum Communications 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 Under Armour, Inc (UA) had a total return adjusted 52 week high today of $86.15 per share and are currently trading at $86.79. The stock traded higher by 1.12% or $0.96/share to $86.79. The stock recorded a trading volume of 318848 today. This represents 0.97 times the average volume for Under Armour, 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 Deckers Outdoor Corp (DECK) had a total return adjusted 52 week high today of $117.93 per share and are currently trading at $117.38. The stock fell by 0.24% or $-0.28/share to $117.38. The stock recorded a trading volume of 486904 today. This represents 1.4 times the average volume for Deckers Outdoor 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 Questcor Pharmaceuticals, Inc (QCOR) had a total return adjusted 52 week high today of $42.43 per share and are currently trading at $42.55. The stock traded higher by 1.97% or $0.82/share to $42.55. The stock recorded a trading volume of 563981 today. This represents 1.95 times the average volume for Questcor 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 Nike Inc (NKE) had a total return adjusted 52 week high today of $96.93 per share and are currently trading at $97.11. The stock traded higher by 0.37% or $0.36/share to $97.11. The stock recorded a trading volume of 680411 today. This represents 0.9 times the average volume for Nike 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.
