Stock Quotes in this Article: AMGN, ELN, HSTM, PETM, PGNX, SBUX, WMT

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), andmomentum 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 Beaten-Down Stocks That Could Rebound in 2012

That’s why it’s important to combine a number of technical indicators like 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, disciple 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.

Starbucks

Starbucks (SBUX) is a roaster and retailer of specialty coffee in the world, operating in more than 50 countries. This stock is trading down 0.79% to $44.71 in recent trading after hitting a 52-week high of $45.45 earlier today.

Today’s Range: $44.56-$45.45

52-Week Range: $30.75-$45.15

Volume: 1.9 million

Three-Month Average Volume: 6.9 million

Starbucks has a market cap of $33.24 billion and an enterprise value of $32.09. This stock trades at a trailing price-to-earnings of 27.54 and a forward price-to-earnings of 20.09. Its estimated revenue growth for this year is 20.40%, and for next year it’s pegged at 21.3%. The current short interest as a percentage of the float for Starbucks is very low at 1.4%.

 

From a technical standpoint, SBUX flirted with a major breakout earlier in the trading session after the stock traded above some near-term overhead resistance at $45. Since hitting $45.45, SBUX has pulled back under the breakout level at around $44.70. If SBUX fails to sustain a move and close back above $45 on high-volume, then this stock could be setting up to trade lower.

Volume so far today is extremely light, so that intraday breakout looks to be setting up to fail. That would only change if SBUX can start to see better volume and a sustained move back above $45.

Starbucks, which shows up on a recent list of 5 Large-Caps Flirting With 52-Week Highs, was also highlighted in "5 Rocket Stocks Poised for Gains."

Amgen

Amgen (AMGN) is an independent biotechnology medicines company. Amgen discovers, develops, manufactures and markets medicines for grievous illnesses. This stock is trading up 1.7% to $62.41 in recent trading after hitting a 52-week high of $62.50 earlier in the day.

Today’s Range: $61.00-$62.50

52-Week Range: $47.66-$61.53

Volume: 4.7 million

Three-Month Average Volume: 8.3 million

Amgen has a market cap of $54.71 billion and an enterprise value of $50.20 billion. This stock trades at a trailing price-to-earnings of 15.45 and a forward price-to-earnings of 10.75. Its estimated growth rate for this year is 2.1%, and for next year it’s pegged at 9.2%. The current short interest as a percentage of the float for Amgen is very low at 2.5%.

From a technical standpoint, AMGN broke out recently above some near-term overhead resistance of $59.43 on solid volume.

Market players should now watch for AMGN to re-test its next significant overhead resistance level at $65 in the coming days or weeks, as long as the stock continues to trend above $59.43. Traders should look for long biased trades with a target of $65, as long as the volume on the up days remains near or above 8.3 million shares.

Amgen is one of the highest-yielding drug stocks.

Wal-Mart Stores

Retail store operator Wal-Mart Stores (WMT) is trading up 0.32% at $59.37 in recent trading after hitting a 52-week high of $59.66 earlier in the day.

Today’s Range: $59.16-$59.66

52-Week Range: $48.31-$59.40

Volume: 4 million

Three-Month Average Volume: 11.6 million

Wal-Mart has a market cap of $203.07 billion and an enterprise value of $254.96 billion. The stock trades at a trailing price-to-earnings of 12.55 and a forward price-to-earnings of 12.08. Its estimated growth rate for this year is 10.3%, and for next year it’s pegged at 9.4%. The current short interest as a percentage of the float for Wal-Mart is very low at 1.7%.

From a technical standpoint, WMT has started to trigger a big breakout trade today now that this stock has cleared some near-term overhead resistance at $59.03. Volume on this breakout so far is very light, so traders need to watch how the stock finishes with price and volume.

Look for a sustained move and close above $59.03 on volume that’s near or above 11.6 million to signal that WMT wants to trend higher in the near future. If we get that action, then look for WMT to challenge its next significant resistance levels that sit just under $65.

Wal-Mart, one of Warren Buffett's holdings, also shows up on a list of 10 Stocks Held by the Most Successful Fund Managers.

PetSmart

PetSmart (PETM) is a specialty provider of products, services and solutions for the lifetime needs of pets. This stock is trading up 0.42% at $51.92 in recent trading after hitting a 52-week high of $51.97 earlier in the day.

Today’s Range: $50.95-$51.97

52-week Range: $37.76-$51.65

Volume: 492,000

Three-Month Average Volume: 959,834

PetSmart has a market cap of $5.78 billion and an enterprise value of $6.02 billion. The stock trades at a trailing price-to-earnings of 21.41 and a forward price-to-earnings of 17.32. Its estimated growth rate for this year is 26.4%, and for next year it’s pegged at 17.7%. The current short interest as a percentage of the float for PetSmart is pretty low at 3.6%.

From a technical standpoint, PETM recently broke out above $49.04 and $50 on strong volume. This recent breakout for PETM has now pushed the stock into all-time high territory. Market players should continue to look for long biased trades as long as PETM can continue to tend above $50.

PetSmart is one of the top-yielding specialty retail stocks.

Progencis Pharmaceuticals

Progencis Pharmaceuticals (PGNX) is a biopharmaceutical company focusing on the development and commercialization of therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. This stock is trading up 2.8% at $8.73 in recent trading after hitting a 52-week high of $9.12 earlier in the day.

Today’s Range: $8.22-$9.12

52-Week Range: $4.50-$8.69

Volume: 621,000

Three-Month Average Volume: 163,611

Progenics Pharmaceuticals has a market cap of $296.43 million and an enterprise value of $208.65 million. The stock trades at a trailing price-to-earnings of 122.08. Its estimated growth rate for this year is 115.9% and for next year it’s pegged at -129.4%. The current short interest as a percentage of the float for Genomic Health sits at 4.3%.

From a technical standpoint, PGNX recently gapped up and broke out above some near-term overhead resistance at $7.70 and $7.93 a share on monster volume. Volume on the breakout day hit over 2 million shares, which is well above its three-month average volume of just 163,611 shares.

The stock has now started to breakout again above $8.69 a share on strong volume. Market players should continue to look for long biases trades in PGNX as long as the stock can sustain a move and close above $8.69.

HealthStream

HealthStream (HSTM) provides Internet-based learning and research solutions for healthcare organizations. This stock is trading up 2% at $18.86 in recent trading after hitting a 52-week of $19.32 earlier in the day.

Today’s Range: $18.25-$19.32

52-Week Range: $6.50-$18.49

Volume: 215,000

Three-Month Average Volume: 222,823

HealthStream has a market cap of $420 million and an enterprise value of $380 million. The stock trades at a trailing price-to-earnings of 69.91 and a forward price-to-earnings of 60.89. Its estimated growth rate for this year is 55.6%, and for next year it’s pegged at 10.7%. The current short interest as a percentage of the float for HealthStream is rather high at 7.3%.

From a technical standpoint, HSTM is trigging a big breakout today now that this stock has cleared some near-term overhead resistance at $18.30 on solid volume. Traders should continue to look for upside trades as long as HSTM can sustain a move and close above $18.30. This move today in HSTM has now pushed the stock into all-time high territory, which is very bullish.

HealthStream is one of TheStreet Ratings' top-rated health care technology stocks.

Elan

Elan (ELN) is a neuroscience-based biotechnology company. Elan is focused on discovering and developing advanced therapies in neurodegenerative and autoimmune diseases and in realizing the potential of its scientific discoveries and drug delivery technologies. This stock is trading down 0.39% at $12.88 in recent trading after hitting a 52-week high of $13.01 earlier in the day.

Today’s Range: $12.73-$13.01

52-Week Range: $5.59-$12.93

Volume: 1.3 million

Three-Month Average Volume: 2.8 million

Elan has a market cap of $7.60 billion and an enterprise value of $7.87 billion. The stock trades at a trailing price-to-earnings of 11.86 and a forward price-to-earnings of 107.67. Its estimated growth rate for this year is 317%, and for next year it’s pegged at -90.2%. The current short interest as a percentage of the float for Elan is very low at 1.2%.

From a technical standpoint, ELN broke out recently above some past overhead resistance at $12.20 and then $12.60 on monster volume. Market players should continue to look for long biased trades in ELN as long as the stock can remain above $12.60 on a closing basis. The next significant overhead resistance level won’t come into play until ELN hits $14.

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.

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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.