Stocks hitting new 52 week highs on June 4 are Flowers Foods, Inc, Duke Energy Corporation, Progress Energy Inc, Pinnacle West Capital Corporation, and Healthcare Realty Trust 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 Flowers Foods, Inc (FLO) had a total return adjusted 52 week high today of $22.92 per share and are currently trading at $22.96. The stock traded higher by 0.44% or $0.10/share to $22.96. The stock recorded a trading volume of 283851 today. This represents 1.74 times the average volume for Flowers Foods, 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 Duke Energy Corporation (DUK) had a total return adjusted 52 week high today of $22.40 per share and are currently trading at $22.51. The stock traded higher by 0.72% or $0.16/share to $22.51. The stock recorded a trading volume of 3991314 today. This represents 1.31 times the average volume for Duke Energy 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 Progress Energy Inc (PGN) had a total return adjusted 52 week high today of $55.68 per share and are currently trading at $55.83. The stock traded higher by 0.59% or $0.33/share to $55.83. The stock recorded a trading volume of 291942 today. This represents 0.5 times the average volume for Progress Energy Inc. 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 Pinnacle West Capital Corporation (PNW) had a total return adjusted 52 week high today of $49.59 per share and are currently trading at $49.77. The stock traded higher by 0.69% or $0.34/share to $49.77. The stock recorded a trading volume of 196131 today. This represents 1.13 times the average volume for Pinnacle West Capital 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 Healthcare Realty Trust Inc (HR) had a total return adjusted 52 week high today of $22.22 per share and are currently trading at $22.25. The stock traded higher by 1.14% or $0.25/share to $22.25. The stock recorded a trading volume of 287060 today. This represents 1.77 times the average volume for Healthcare Realty Trust 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.
