Stocks hitting new 52 week highs on May 7 are Equity Residential, Ecolab Inc, CaesarStone Sdot-Yam Ltd, Eli Lilly & Co, and Retail Opportunity Investments 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 Equity Residential (EQR) had a total return adjusted 52 week high today of $62.89 per share and are currently trading at $63.31. The stock traded higher by 0.99% or $0.62/share to $63.31. The stock recorded a trading volume of 706702 today. This represents 0.81 times the average volume for Equity Residential. 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 Ecolab Inc (ECL) had a total return adjusted 52 week high today of $64.50 per share and are currently trading at $64.66. The stock traded higher by 1.81% or $1.15/share to $64.66. The stock recorded a trading volume of 1345275 today. This represents 1.74 times the average volume for Ecolab 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 CaesarStone Sdot-Yam Ltd (CSTE) had a total return adjusted 52 week high today of $13.37 per share and are currently trading at $13.06. The stock traded higher by 2.03% or $0.26/share to $13.06. The stock recorded a trading volume of 68960 today. This represents 0.5 times the average volume for CaesarStone Sdot-Yam Ltd. 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 Eli Lilly & Co (LLY) had a total return adjusted 52 week high today of $41.52 per share and are currently trading at $41.49. The stock traded higher by 0.51% or $0.21/share to $41.49. The stock recorded a trading volume of 2700107 today. This represents 0.89 times the average volume for Eli Lilly & Co. 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 Retail Opportunity Investments Corp (ROIC) had a total return adjusted 52 week high today of $12.52 per share and are currently trading at $12.51. The stock traded higher by 0.08% or $0.01/share to $12.51. The stock recorded a trading volume of 106949 today. This represents 0.72 times the average volume for Retail Opportunity Investments 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.
