52 Week High Confirmed. Good news in the close today. Better than intraday high by far. Bit of context below from Investopedia. Also explains some profit taking and volume today at second highest in the past 30 days.
Pretty negative day in the markets so this was a strong performance. Happy I flipped from some $ from Uranium for this as that sold off a bit today.
I hope we retest the .31 this week and hold but we may just keep moving now. Time will tell and we haven't even seen drill results yet.
A stock that reaches a 52-week high intraday, but closes negative on the same day, may have topped out. This means that its price may not go much higher in the near term. This can be determined if it forms a daily shooting star, which occurs when a security trades significantly higher than its opening, but declines later in the day to close either below or near its opening price. Often, professionals, and institutions, use 52-week highs as a way of setting take-profit orders as a way of locking in gains. They may also use 52-week lows to determine stop-loss levels as a way to limit their losses.
Given the upward bias inherent in the stock markets, a 52-week high represents bullish sentiment in the market. There are usually plenty of investors prepared to give up some further price appreciation in order to lock in some or all of their gains. Stocks making new 52-week highs are often the most susceptible to profit taking, resulting in pullbacks and trend reversals.