Stocks hitting new 52 week highs on November 2 are Rentech, Inc, Spreadtrum Communications Inc, Silicon Motion Technology Corp, Sunoco Logistics Partners L.P, and Randgold Resources Limited. 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 Rentech, Inc (RTK) had a total return adjusted 52 week high today of $1.68 per share and are currently trading at $1.71. The stock traded higher by 6.30% or $0.10/share to $1.71. The stock recorded a trading volume of 1717816 today. This represents 4.77 times the average volume for Rentech, 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 Spreadtrum Communications Inc (SPRD) had a total return adjusted 52 week high today of $27.40 per share and are currently trading at $28.28. The stock traded higher by 3.78% or $1.03/share to $28.28. The stock recorded a trading volume of 612653 today. This represents 2.74 times the average volume for Spreadtrum Communications 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 Silicon Motion Technology Corp (SIMO) had a total return adjusted 52 week high today of $17.62 per share and are currently trading at $17.87. The stock traded higher by 13.32% or $2.10/share to $17.87. The stock recorded a trading volume of 772775 today. This represents 7.46 times the average volume for Silicon Motion Technology 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.
Shares of Sunoco Logistics Partners L.P (SXL) had a total return adjusted 52 week high today of $100.00 per share and are currently trading at $99.69. The stock traded higher by 0.29% or $0.29/share to $99.69. The stock recorded a trading volume of 14733 today. This represents 0.92 times the average volume for Sunoco Logistics Partners L.P. 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 Randgold Resources Limited (GOLD) had a total return adjusted 52 week high today of $115.00 per share and are currently trading at $117.10. The stock traded higher by 6.18% or $6.82/share to $117.10. The stock recorded a trading volume of 382841 today. This represents 2.17 times the average volume for Randgold Resources Limited. 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.
