Stocks hitting new 52 week highs on November 11 are Conns Inc, Cadence Design Systems Inc, PharMerica Corporation, Fastenal Company, and Fair Isaac Corp. 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 Conns Inc (CONN) had a total return adjusted 52 week high today of $10.94 per share and are currently trading at $11.21. The stock traded higher by 5.75% or $0.61/share to $11.21. The stock recorded a trading volume of 55904 today. This represents 0.99 times the average volume for Conns 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 Cadence Design Systems Inc (CDNS) had a total return adjusted 52 week high today of $11.38 per share and are currently trading at $11.61. The stock traded higher by 3.11% or $0.35/share to $11.61. The stock recorded a trading volume of 741246 today. This represents 0.9 times the average volume for Cadence Design Systems 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 PharMerica Corporation (PMC) had a total return adjusted 52 week high today of $16.15 per share and are currently trading at $16.42. The stock traded higher by 1.92% or $0.31/share to $16.42. The stock recorded a trading volume of 28443 today. This represents 0.22 times the average volume for PharMerica 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 Fastenal Company (FAST) had a total return adjusted 52 week high today of $40.67 per share and are currently trading at $41.23. The stock traded higher by 2.66% or $1.07/share to $41.23. The stock recorded a trading volume of 612199 today. This represents 0.89 times the average volume for Fastenal Company. 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 Fair Isaac Corp (FICO) had a total return adjusted 52 week high today of $35.14 per share and are currently trading at $35.54. The stock traded higher by 2.51% or $0.87/share to $35.54. The stock recorded a trading volume of 164734 today. This represents 1.54 times the average volume for Fair Isaac 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.
