Stock Quotes in this Article: HD, NVLS, ROCK, SNTS, TOL

WINDERMERE, Fla. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are hitting new 52-week highs and 52-week lows.

When you see a stock that’s hitting new 52-week highs, it often means that the uptrend is very strong and the buyers are in full control (and the opposite for stocks setting new 52-week lows), and momentum traders and often look at the 52-week high lists to find new trading ideas. Keep in mind, though, that new highs can also mean that the stock is overbought or has run up too far too fast.

>>5 Stocks Poised to Break Out

That’s why it’s important to look at a number of technical indicators such as volume, price, trend and momentum indicators such as RSI before you make an investing or trading decision. Combine all of those things with fundamental trends, discipline and sound money management and you will be well on your way to investment success.

With that in mind, let's take a closer look at several stocks that hit new 52-week highs today.

Home Depot

Home Depot (HD) is a home improvement retailer. This stock is trading on 0.50% to $43.30 in recent trading after hitting a 52-week high of $43.60 earlier today.

Today’s Range: $43.16-$43.60

52-Week Range: $28.13-$43.60

Volume: 3.8 million

Three-Month Average Volume: 10.7 million

Home Depot has a market cap of $66.70 billion and an enterprise value of $75.65 billion. This stock trades at a trailing price-to-earnings of 18.65 and a forward price-to-earnings of 15.79. Its estimated growth rate for this year is 17.7%, and for next year it’s pegged at 14.6%.

From a technical standpoint, HD recently triggered a breakout trade once the stock took out some near-term overhead resistance at $40.93 with decent volume. Traders should now look for a continuation pattern of upside price movement as long as HD remains about $40.93.

A potential target is around $50 a share if HD continues to see strong upside volume and trend above $40.93.

Home Depot, which has an A+ buy rating from TheStreet Ratings, yields 2.7% and is one of the highest-yielding retail stocks, along with RadioShack (RSH) and Guess (GES). It was also featured recently in "7 Extreme Stocks to Trade in This Volatile Market."

Gibraltar Industries

Gibraltar Industries (ROCK) is a manufacturer and distributor of products for the building markets. This stock is trading up 2.4% to $15.37 in recent trading after hitting a 52-week high of $15.39 earlier in the day.

Today’s Range: $14.68-$15.39

52-Week Range: $7.35-$15.14

Volume: 21,000

Three-Month Average Volume: 136,525

Gibraltar Industries has a market cap of $468.70 million and an enterprise value of $632.33 million. This stock trades at a forward price-to-earnings of 16.86. Its estimated growth rate for this year is 1,100%, and for next year it’s pegged at 30%.

From a technical standpoint, ROCK recently triggered a breakout trade once the stock move above some near-term overhead resistance at $14.69. Traders should now watch for the next breakout trade in ROCK to trigger if the stock takes out $15.85 with volume.

Look for volume that’s near or above 136,525 shares to signal that ROCK wants to trend higher. The next potential target if $15.85 is taken out with volume would be $18.28, its 2010 high.

Gibraltar is rated a D+ sell by TheStreet Ratings.

Novellus Systems

Novellus Systems (NVLS), together with its subsidiaries, develops, manufactures, sells and supports equipment used in the fabrication of integrated circuits, commonly called chips or semiconductors. This stock is trading up 2.1% at $44.07 in recent trading after hitting a 52-week high of $44.12 earlier in the day.

Today’s Range: $42.87-$44.12

52-Week Range: $25.95-$43.82

Volume: 1.8 million

Three-Month Average Volume: 3.3 million

Novellus Systems has a market cap of $2.93 billion and an enterprise value of $2.52 billion. The stock trades at a trailing price-to-earnings of 12.59 and a forward price-to-earnings of 16.19. Its estimated growth rate for this year is 1%, and for next year it’s pegged at -11.1%.

From a technical standpoint, NVLS has recently started to break out above some near-term overhead resistance at $41.82 and $42.50. If this stock can close near today’s highs and remain above those breakout levels, then it should trend back towards its 2002 price levels of near $50 a share.

I would continue to watch the volume though and look for up days to track close to or above 3.2 million shares.

Novellus is one of top-rated semiconductor stocks, with a B buy rating. As of the most recently reported quarter, it was one of the top holdings at Private Capital Management, along with Qualcomm (QCOM) and EZCorp (EZPW).

Toll Brothers

Toll Brothers (TOL) designs, builds, markets and arranges financing for single-family detached and attached homes in luxury residential communities. This stock is trading up 2.5% at $23.07 in recent trading after hitting a 52-week of $23.24 earlier in the day.

Today’s Range: $22.49-$23.24

52-Week Range: $13.16-$22.51

Volume: 3.9 million

Three-Month Average Volume: 4.1 million

Toll Brothers has a market cap of $3.83 billion and an enterprise value of $4.26 billion. The stock trades at a trailing price-to-earnings of 95.83 and a forward price-to-earnings of 31.08. Its estimated growth rate for this year is 50%, and for this year it’s pegged 105.6%.

From a technical standpoint, TOL has started to flirt with a big breakout now that this stock is quickly approaching some major overhead resistance at $23.67. Traders should now watch for a sustained high-volume move and close above that level to signal that TOL wants to trend significantly higher.

Look for volume on any future move over $23.67 that’s near or above 4.1 million shares. Some potential targets if we get that high-volume breakout are $25 to $27.

Toll, which has a C hold rating from TheStreet Ratings, shows up on a list of 5 Homebuilder Stocks With Bright 2012 Outlooks, along with DR Horton (DHI). It was also featured recently in "3 Housing Stocks for a 2012 Rebound."

Santarus

Santarus (SNTS) is a specialty biopharmaceutical company focused on acquiring, developing and commercializing products that address the needs of patients treated by physician specialists. This stock is trading up 7% at $4.09 in recent trading after hitting a 52-week high of $4.10 earlier in the day.

Today’s Range: $3.78-$4.10

52-Week Range: $2.40-$3.84

Volume: 452,000

Three-Month Average Volume: 276,948

Santarus has a market cap of $246.53 million and an enterprise value of $183.79 million. The stock trades at a trailing price-to-earnings of 368.18 and a forward price-to-earnings of 21.32. Its estimated growth rate for this year is 131.8%, and for next year it’s pegged at 171.4%.

From a technical standpoint, SNTS has triggered a big breakout today now that the stock has taken out some past overhead resistance at $3.70 with big volume. This stock now has a chance to fill a big gap down from back in 2010 that could take the stock back towards $5.67 to $5.82.

Look for SNTS to close near today’s highs and remain above $3.70 to signal that long-biased trades are the best play from here.

Santarus is rated a C hold by TheStreet Ratings.

To see more stocks hitting new 52-week highs today, check out the Stocks Hitting New 52-Week Highs portfolio on Stockpickr.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.