Stocks hitting new 52 week highs on November 21 are Global Education & Technology Group Limited, and Reynolds American 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 Global Education & Technology Group Limited (GEDU) had a total return adjusted 52 week high today of $10.55 per share and are currently trading at $10.55. The stock traded higher by 96.46% or $5.18/share to $10.55. The stock recorded a trading volume of 2764230 today. This represents 136.05 times the average volume for Global Education & Technology Group 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.
Shares of Reynolds American Inc (RAI) had a total return adjusted 52 week high today of $40.42 per share and are currently trading at $40.33. The stock traded higher by 0.55% or $0.22/share to $40.33. The stock recorded a trading volume of 1770372 today. This represents 1.26 times the average volume for Reynolds American 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.