Stocks hitting new 52 week highs on October 31 are NewMarket Corp, Silicon Motion Technology Corp, V.F. Corporation, Holly Energy Partners L.P, and Ralph Lauren 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 NewMarket Corp (NEU) had a total return adjusted 52 week high today of $200.03 per share and are currently trading at $197.59. The stock fell by 0.29% or $-0.57/share to $197.59. The stock recorded a trading volume of 28360 today. This represents 1.18 times the average volume for NewMarket 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 Silicon Motion Technology Corp (SIMO) had a total return adjusted 52 week high today of $17.36 per share and are currently trading at $17.22. The stock fell by 0.72% or $-0.12/share to $17.22. The stock recorded a trading volume of 153565 today. This represents 1.18 times the average volume for Silicon Motion Technology 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 V.F. Corporation (VFC) had a total return adjusted 52 week high today of $140.59 per share and are currently trading at $141.79. The stock traded higher by 1.16% or $1.63/share to $141.79. The stock recorded a trading volume of 179284 today. This represents 0.73 times the average volume for V.F. 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 Holly Energy Partners L.P (HEP) had a total return adjusted 52 week high today of $59.38 per share and are currently trading at $59.58. The stock traded higher by 1.07% or $0.63/share to $59.58. The stock recorded a trading volume of 23348 today. This represents 3.1 times the average volume for Holly Energy Partners L.P. 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 Ralph Lauren Corporation (RL) had a total return adjusted 52 week high today of $162.98 per share and are currently trading at $162.75. The stock traded higher by 0.42% or $0.68/share to $162.75. The stock recorded a trading volume of 312420 today. This represents 0.9 times the average volume for Ralph Lauren 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.
