Stocks Trading Near 52-Week Highs and LowsMomentum 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.