Stocks hitting new 52 week highs on August 6 are HollyFrontier Corporation, Ellington Financial LLC, Kaiser Aluminum Corporation, American States Water Company, and 8x8 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 HollyFrontier Corporation (HFC) had a total return adjusted 52 week high today of $38.63 per share and are currently trading at $39.90. The stock traded higher by 3.88% or $1.49/share to $39.90. The stock recorded a trading volume of 1930001 today. This represents 0.95 times the average volume for HollyFrontier 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 Ellington Financial LLC (EFC) had a total return adjusted 52 week high today of $23.24 per share and are currently trading at $23.39. The stock traded higher by 1.26% or $0.29/share to $23.39. The stock recorded a trading volume of 32765 today. This represents 0.87 times the average volume for Ellington Financial LLC. 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 Kaiser Aluminum Corporation (KALU) had a total return adjusted 52 week high today of $55.88 per share and are currently trading at $57.19. The stock traded higher by 2.71% or $1.51/share to $57.19. The stock recorded a trading volume of 74876 today. This represents 0.76 times the average volume for Kaiser Aluminum 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 American States Water Company (AWR) had a total return adjusted 52 week high today of $41.72 per share and are currently trading at $42.22. The stock traded higher by 1.88% or $0.78/share to $42.22. The stock recorded a trading volume of 132014 today. This represents 2.37 times the average volume for American States Water Company. 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 8x8 Inc (EGHT) had a total return adjusted 52 week high today of $5.73 per share and are currently trading at $5.89. The stock traded higher by 3.79% or $0.22/share to $5.89. The stock recorded a trading volume of 677703 today. This represents 1.78 times the average volume for 8x8 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.
