Stocks Trading Near 52-Week Highs and Lows
Momentum trading strategies often involve the buying of stocks that are trading at or near their 52-week high in the expectation that the stock will continue to reach new highs. See study "52-Week High and Momentum Investing" cited below for evidence on the effectiveness of this trading strategy.Contrarian trading strategies, on the other hand, can involve buying stocks at or near 52-week lows in anticipation that a bottom may be near, but this strategy can be quite risky, as such stocks tend to be highly volatile in either direction.
Short selling stocks at 52-week lows may be quite profitable, but is also dangerous, as stocks will frequently bounce higher after hitting 52-week lows, even if they are headed far lower in the longer term.
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Stocks Near 52-Week Highs
(As of market close 01/17/2020)Stocks Near 52-Week Lows
(As of market close 01/17/2020)| Ticker - Company | Closing Price | 52 Week Low | 52 Week High | Price Relative to 52 Week Range (0 to 100%) |
| Boeing Co (NYSE:BA) | $324.15 | $320.42 | $440.62 | 4% |
| Gilead Sciences Inc (NASDAQ:GILD) | $62.98 | $61.62 | $70.05 | 17% |
| Simon Property Group (NYSE:SPG) | $147.77 | $144.01 | $185.85 | 10% |
52-Week Highs and Lows, and Price Relative to 52-Week Range, of all S&P-100 Stocks
(As of market close 01/17/2020)Notes:
Stocks are deemed to be near their 52-week high (low) if they are within 3 percent of the high (low) or they achieved a new high (low) within the 5 most recent market days.Price relative to 52-week range is calculated as [log(price)-log(low price)]/[log(high price)-log(low price)]*100%. Thus a stock with a current price of $4 with a 52-week high of $8 and a 52-week low of $2 will have price relative to range of 50%.
See George, Thomas J. and Chuan-Yang Hwang (2004). "The 52-Week High and Momentum Investing." The Journal of Finance. Volume LIX. Number 5. 2145-2176.