“The 52-week new highs on Friday rule” is usually applied to the market itself and not to an individual stock.
Rule number 1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend.
Rule number 2: Exit the long position on the opening the following Tuesday.
Rule number 3: If the market opens lower on Monday, exit the position immediately.
Originally shared by Shoyu Ramen in Finance Manila. Hope he doesn't mind me posting this one out here(sharing to other people and for personal use). Will take this one down if he doesn't want other people posting his stuff.
*Originally from Ino.com. Click the title for the original video/lesson.
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