What does a stock hitting its 52 weak high mean?

The 52 week high

A stock hits a 52 week high when its high price for the day, known as its high, is also the high for the year. Lots of digital ink has been spilled, highlighting this occurance as a omen of doom or an sign of good times to follow.

Testing it out

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I, however, have the ability to simply test it out, and see what the result is. We <strong>backtest</strong> it, by holding a series of simulated portfolios, rebalancing each quarter, to see what the long term results of following a strategy holding these stocks would be. Imaging an ETF “52WK” (yes, I know tickers can’t start with numbers in the US. This is not a real ticker.