Stocks falling to new 52 week lows on June 24 are STR Holdings, Inc, Lloyds Banking Group plc, Frontline Ltd, Royal Bank of Scotland Group plc, and Niska Gas Storage Partners LLC. 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 STR Holdings, Inc. (STRI) fell by 16.21% or $-2.71/share to $14.01. In the past year, the shares have traded as low as $14.43 and as high as $28.16. On average, 407310 shares of STRI exchange hands on a given day and today's volume is recorded at 1383421. 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 $15.86 area but be careful because the stock may face selling pressure at this level.
Shares of Lloyds Banking Group plc (LYG) fell by 5.03% or $-0.14/share to $2.73. In the past year, the shares have traded as low as $2.83 and as high as $4.85. On average, 3060720 shares of LYG exchange hands on a given day and today's volume is recorded at 2723458. 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 $3.43 area but be careful because the stock may face selling pressure at this level.
Shares of Frontline Ltd. (FRO) fell by 5.35% or $-0.83/share to $14.64. In the past year, the shares have traded as low as $15.16 and as high as $32.38. On average, 1314470 shares of FRO exchange hands on a given day and today's volume is recorded at 1534347. 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 $19.29 area but be careful because the stock may face selling pressure at this level.
Shares of Royal Bank of Scotland Group plc (RBS) fell by 4.33% or $-0.52/share to $11.48. In the past year, the shares have traded as low as $11.61 and as high as $16.82. On average, 361990 shares of RBS exchange hands on a given day and today's volume is recorded at 445330. 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 $13.56 area but be careful because the stock may face selling pressure at this level.
Shares of Niska Gas Storage Partners LLC (NKA) fell by 1.42% or $-0.24/share to $16.66. In the past year, the shares have traded as low as $16.86 and as high as $21.84. On average, 226030 shares of NKA exchange hands on a given day and today's volume is recorded at 145753. 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 $19.54 area where the stock may encounter resistance.
