Stock Quotes in this Article: ABMD, AKRX, GCA, PLCE, SHFL, SPSC

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), momentum traders 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 Set to Soar off Bullish Earnings

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

Let's take a closer look at several stocks that hit new 52-week highs today.

Shuffle Master

Shuffle Master (SHFL) is engaged in developing, manufacturing and marketing technology and entertainment-based products for the gaming industry for placement on the casino floor. This stock is trading up 2% to $12.12 in recent trading, after it hit a 52-week high of $12.21 earlier today.

Today’s Range: $11.89-$12.21

52-Week Range: $7.35-$12.12

Volume: 127,000

Three-Month Average Volume: 399,784

 

 

Shuffle Master has a market cap of $644 million and an enterprise value of $674 million. This stock trades at a trailing price-to-earnings of 23.55. The current short interest as a percentage of the float for Shuffle Master is 5.3%.

From a technical standpoint, SHFL recently triggered a breakout trade once the stock cleared some major overhead resistance at around $10.80 to $11 a share. After hitting that breakout, the stock has now triggered another big breakout with shares moving above its 2010 high of $11.80.

Traders should look for a high-volume close today to confirm that SHFL wants to trend significantly higher. The next major resistance levels won’t come into play until $13.50 to $16 a share, so a high-volume close over $11.80 should set the stock up to re-test those levels.

Abiomed

Abiomed (ABMD) is a provider of medical devices in circulatory support and offers a continuum of care in heart recovery to acute heart failure patients. This stock is trading up 3.5% to $21.33 in recent trading after hitting a 52-week high of $21.50 earlier in the day.

Today’s Range: $20.84-$21.50

52-Week Range: $8.97-$21.50

Volume: 153,000

Three-Month Average Volume: 265,486

Abiomed has a market cap of $804 million and an enterprise value of $715 million. This stock trades at a forward price-to-earnings of 125.76. Its estimated growth rate for this year is 78.1%, and for next year it’s pegged at 342.9%. The current short interest as a percentage of the float for Abiomed is 6.7%.

From a technical standpoint, ABMD has recently triggered a big breakout trade once the stock cleared some past overhead resistance level at $20.

>>5 Stocks Setting Up to Break Out

Market players should watch for ABMD to continue its trend higher since the stock has held above that key breakout level for a number of trading sessions. As long as ABMD stays above $20 and volume patterns remain decent to strong, then this stock should have a date with $25 in the near future.

Akorn

Akorn (AKRX) manufactures and markets a range of diagnostic and therapeutic ophthalmic pharmaceuticals, as well as niche hospital drugs and injectable pharmaceuticals. This stock is trading up 1.5% at $10.82 in recent trading after hitting a 52-week high of $11.14 earlier in the day.

Today’s Range: $10.73-$11.14

52-Week Range: $4.87-$11.14

Volume: 470,000

Three-Month Average Volume: 1.2 million

Akorn has a market cap of $1.03 billion and an enterprise value of $982 million. The stock trades at a trailing price-to-earnings of 19.1 and a forward price-to-earnings of 29.27. Its estimated growth rate for this year is 72.2%, and for next year it’s pegged at 19.4%. The current short interest as a percentage of the float for Akron is notable at 8%.

From a technical standpoint, AKRX is quickly approaching a big breakout trade if the stock can manage to clear some near-term overhead resistance at $11.14.

Market players should now look for a sustained high-volume move and close above $11.14. Look for volume on that potential breakout that hits near or above 1.2 million shares. If we get that action, then this stock should continue to trend significantly higher.

SPS Commerce

SPS Commerce (SPSC) is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics. This stock is trading up 2.6% at $25.94 in recent trading after hitting a 52-week high of $26.77 earlier in the day.

Today’s Range: $25.32-$26.77

52-Week Range: $13.59-$26.77

Volume: 136,000

Three-Month Average Volume: 57,589

SPS Commerce has a market cap of $314 million and an enterprise value of $273 million. The stock trades at a trailing price-to-earnings of 356.37. Shares of SPS trade at a price-to-sales of 5.65 and a price-to-book of 6.64. The current short interest as a percentage of the float for SPS Commerce is 6.5%.

From a technical standpoint, SPSC recently triggered a breakout trade once the stock cleared some previous overhead resistance at $24.59. Volume for the past couple of trading sessions has also been very strong as the stock has trended higher.

>>Stocks Rising on Unusual Volume

That said, the stock is entering some extreme overbought territory since its relative strength index (RSI) reading is over 80. Any reading over 70 is considered overbought on any stock. Overbought can always get more overbought, so as long SPSC remains above $24.59, then look for higher prices in the near-term.

Children’s Place Retail Stores

Children’s Place Retail Stores (PLCE) is a pure-play children's specialty apparel retailer in North America. This stock is trading up 0.4% at $57.08 in recent trading after hitting a 52-week of $57.55 earlier in the day.

Today’s Range: $56.46-$57.55

52-Week Range: $36.96-$57.63

Volume: 337,000

Three-Month Average Volume: 668,155

Children’s Place Retail Stores has a market cap of $1.42 billion and an enterprise value of $1.26 billion. The stock trades at a price-to-sales of 0.83 and a price-to-book of 2.34. The current short interest as a percentage of the float for Children’s Place Retail Stores is very high at 23.9%.

>>10 Retail Stock Losers of 2011

From a technical standpoint, PLCE is quickly approaching a major breakout if the stock can manage to move above its 2010 high of $57.63 on high volume.

Market players should now watch for a sustained move and close above $57.63 on volume that’s close to or greater than 668,155 shares. If we get that action, then look for PLCE to continue its strong uptrend towards its all-time high of over $70 a share.

Global Cash Access

Global Cash Access (GCA) is a global provider of cash access and data intelligence services and solutions to the gaming industry. This stock is trading up 3.2% at $4.79 in recent trading after hitting a 52-week of $4.80 earlier in the day.

Today’s Range: $4.67-$4.80
52-Week Range: $2.07-$4.80

Volume: 273,000

Three-Month Average Volume: 599,464

Global Cash Access has a market cap of $309 million and an enterprise value of $442 million. The stock trades at a trailing price-to-earnings of 72.42. The stock also trades at a price-to-sales of 0.55 and a price-to-book of 1.96. The current short interest as a percentage of the float for Global Access is 5.2%.

From a technical standpoint, GCA is starting to break out today above some past overhead resistance at $4.58. This is a major breakout for GCA since the next major resistance levels won’t be reached until $6.63 to $7. Market players should now watch for a sustained high-volume move and close today above $4.58. Look for volume that’s near or above 599,464 shares.

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

-- Written by Roberto Pedone in Winderemere, Fla.

RELATED LINKS:

 >>5 Tech Stocks to Trade for Gains

>>3 Dow Dogs to Lead the Market in 2012

>>5 Rocket Stocks Poised for Gains

Follow Stockpickr on Twitter and become a fan on Facebook.

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.