Stocks hitting new 52 week highs on July 3 are Western Refining Inc, Textainer Group Holdings Limited, Metals USA Holdings Corp, Cato Corp, and Fred's, 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 Western Refining Inc (WNR) had a total return adjusted 52 week high today of $23.04 per share and are currently trading at $23.75. The stock traded higher by 3.28% or $0.75/share to $23.75. The stock recorded a trading volume of 1270225 today. This represents 1.65 times the average volume for Western Refining 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 Textainer Group Holdings Limited (TGH) had a total return adjusted 52 week high today of $37.58 per share and are currently trading at $38.90. The stock traded higher by 3.60% or $1.35/share to $38.90. The stock recorded a trading volume of 59148 today. This represents 1.19 times the average volume for Textainer Group Holdings Limited. 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 Metals USA Holdings Corp (MUSA) had a total return adjusted 52 week high today of $16.20 per share and are currently trading at $16.72. The stock traded higher by 3.27% or $0.53/share to $16.72. The stock recorded a trading volume of 36299 today. This represents 0.56 times the average volume for Metals USA Holdings Corp. 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 Cato Corp (CATO) had a total return adjusted 52 week high today of $31.29 per share and are currently trading at $32.23. The stock traded higher by 3.07% or $0.96/share to $32.23. The stock recorded a trading volume of 48693 today. This represents 0.98 times the average volume for Cato 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.
Shares of Fred's, Inc (FRED) had a total return adjusted 52 week high today of $15.51 per share and are currently trading at $15.95. The stock traded higher by 2.84% or $0.44/share to $15.95. The stock recorded a trading volume of 48707 today. This represents 0.5 times the average volume for Fred's, 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.
