Stocks falling to new 52 week lows on June 8 are Oclaro, Inc, Eldorado Gold Corp, Nokia Corporation, A123 Systems, Inc, and Frontline 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 Oclaro, Inc. (OCLR) fell by 6.51% or $-0.56/share to $8.04. In the past year, the shares have traded as low as $8.25 and as high as $18.95. On average, 1888420 shares of OCLR exchange hands on a given day and today's volume is recorded at 979936. 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 $12.46 area where the stock may encounter resistance.
Shares of Eldorado Gold Corp. (EGO) fell by 3.37% or $-0.49/share to $14.03. In the past year, the shares have traded as low as $14.41 and as high as $20.23. On average, 4143979 shares of EGO exchange hands on a given day and today's volume is recorded at 2224129. 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 $17.32 area where the stock may encounter resistance.
Shares of Nokia Corporation (NOK) fell by 4.13% or $-0.27/share to $6.27. In the past year, the shares have traded as low as $6.45 and as high as $11.06. On average, 29733800 shares of NOK exchange hands on a given day and today's volume is recorded at 33683660. 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 $9.04 area where the stock may encounter resistance.
Shares of A123 Systems, Inc. (AONE) fell by 3.22% or $-0.17/share to $5.11. In the past year, the shares have traded as low as $5.21 and as high as $11.53. On average, 3564080 shares of AONE exchange hands on a given day and today's volume is recorded at 1376378. 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 $8.15 area where the stock may encounter resistance.
Shares of Frontline Ltd. (FRO) fell by 5.79% or $-0.99/share to $16.11. In the past year, the shares have traded as low as $16.57 and as high as $35.15. On average, 1277120 shares of FRO exchange hands on a given day and today's volume is recorded at 1049842. 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 $25.07 area where the stock may encounter resistance.
