Shares of New Relic Inc. (NEWR) broke into a new 52-week high yesterday, hitting a peak of $59.90. Shares closed at $59.74 after opening at $59.27 for a move of 0.93%. The company now has a market cap of $3.29 billion.
Investors and traders can learn a lot about a stock’s momentum when it sets a new 52-week high. As an example, bullish investors view a company hitting its highest price in a year as a sign of momentum and may interpret it as a signal to buy. On the other hand, bearish investors could view a new 52-week high as a signal of the end of a strong run, with the stock possibly peaking out before an impending period of decline.
For New Relic Inc., the new 52-week high came on volume of 385,510. The stock has a float of 55.06 million shares and average daily volume of $421,912. It has a 50-day SMA of $51.41 and a 200-day SMA of $44.46.