Regardless of the state of the economy, there will always be stocks reaching new highs. These companies thrive by adapting to the changing needs of their consumers and take the lead while their competitors falter. While overzealous bulls can push a stock into being overvalued, this might not be the case if the company's earnings also grow accordingly. Most importantly, companies that have recently hit a new 52 week high may (in the short run) have the momentum to keep going up and may signal the beginnings of a new long term upward trend.
Investors may want to check into the stocks listed below to see if these momentum plays fit in their portfolio.
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|Company||Industry||Market Cap||52-Week Range||Current Price|
|Vivo Particpacoes SA (NYSE:VIV)||Wireless Communications||16.89B||$23.13-$43.52||$41.69|
|Copano Energy LLC(Nasdaq:CPNO)||Oil & Gas Pipelines||2.38B||$21.53-$36.71||$36.48|
|Omega Healthcare Investors Inc.(NYSE:OHI)||Healthcare Facilities||2.36B||$17.50-$24.30||$24.15|
|Kinder Morgan Energy Partners(NYSE:KMP)||Oil & Gas Pipelines||23.70B||$57.40-$75.85||$75.69|
|National Grid plc(NYSE:NGG)||Gas Utilities||33.95B||$36.72-$51.00||$49.38|
With oil prices hitting new highs again, it is no surprise that 3 of the companies reaching new highs are from the oil and gas industry. (For related reading, see Oil And Gas Industry Primer)
These stocks are hitting highs in their 52-week trading ranges and could cause many investors to take a closer look. With that said, all investors need to look at the businesses, analyze the financials and decide whether these are stocks are ripe for further appreciation or if they have peaked or are otherwise overvalued. (To learn more, check out Buy High, Sell Much Higher.)
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