The 52- week high and momentum investing

Deskripsi

When coupled with a stock's current price, a readily available piece of information-the 52 week high price-explains a large portion of the profits from momentum invesing. Nearness to the 52 week high dominates and improves upon the forecasting power of past returns (both indivudual and industry returns) for future returns. Future returns forecast using the 52 week high do not reverse in the long run. .Printed Journal