Stocks hitting new 52 week highs on June 5 are Pinnacle West Capital Corporation, WD-40 Company, Duke Energy Corporation, Santarus, Inc, and ISTA Pharmaceuticals 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 Pinnacle West Capital Corporation (PNW) had a total return adjusted 52 week high today of $49.89 per share and are currently trading at $50.10. The stock traded higher by 0.52% or $0.26/share to $50.10. The stock recorded a trading volume of 121925 today. This represents 0.6 times the average volume for Pinnacle West Capital 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 WD-40 Company (WDFC) had a total return adjusted 52 week high today of $47.79 per share and are currently trading at $47.57. The stock traded higher by 0.30% or $0.14/share to $47.57. The stock recorded a trading volume of 14683 today. This represents 0.97 times the average volume for WD-40 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 Duke Energy Corporation (DUK) had a total return adjusted 52 week high today of $22.55 per share and are currently trading at $22.59. The stock traded higher by 0.49% or $0.11/share to $22.59. The stock recorded a trading volume of 2987452 today. This represents 0.83 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 Santarus, Inc (SNTS) had a total return adjusted 52 week high today of $6.88 per share and are currently trading at $6.76. The stock fell by 0.73% or $-0.05/share to $6.76. The stock recorded a trading volume of 146965 today. This represents 1.05 times the average volume for Santarus, 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 ISTA Pharmaceuticals Inc (ISTA) had a total return adjusted 52 week high today of $9.10 per share and are currently trading at $9.10. The stock remained unchanged at 9.10. The stock recorded a trading volume of 346805 today. This represents 0.93 times the average volume for ISTA Pharmaceuticals 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.
