Stocks falling to new 52 week lows on June 17 are AU Optronics Corp, Brazilian Telecommunications Corp, Marvell Technology Group Ltd, Renren Inc. American Depositary, and China Life Insurance Co. Ltd. Investors are selling the stock and pushing it lower because they may think that these stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.
Shares of AU Optronics Corp. (AUO) fell by 3.77% or $-0.28/share to $7.15. In the past year, the shares have traded as low as $7.40 and as high as $10.87. On average, 2624800 shares of AUO exchange hands on a given day and today's volume is recorded at 1667930. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $8.16 area but be careful because the stock may face selling pressure at this level.
Shares of Brazilian Telecommunications Corp. (TBH) fell by 2.73% or $-0.13/share to $4.64. In the past year, the shares have traded as low as $4.70 and as high as $10.00. On average, 17170 shares of TBH exchange hands on a given day and today's volume is recorded at 23578. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $6.80 area where the stock may encounter resistance.
Shares of Marvell Technology Group Ltd. (MRVL) fell by 3.99% or $-0.55/share to $13.24. In the past year, the shares have traded as low as $13.66 and as high as $22.01. On average, 13977600 shares of MRVL exchange hands on a given day and today's volume is recorded at 17015744. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $15.11 area but be careful because the stock may face selling pressure at this level.
Shares of Renren Inc. American Depositary (RENN) traded higher by 3.24% or $0.22/share to $7.0. In the past year, the shares have traded as low as $6.77 and as high as $24.00. On average, 11440580 shares of RENN exchange hands on a given day and today's volume is recorded at 5087232. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $12.43 area but be careful because the stock may face selling pressure at this level.
Shares of China Life Insurance Co. Ltd. (LFC) fell by 2.5% or $-1.24/share to $48.32. In the past year, the shares have traded as low as $49.25 and as high as $69.57. On average, 522929 shares of LFC exchange hands on a given day and today's volume is recorded at 621177. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $52.89 area but be careful because the stock may face selling pressure at this level.
