Among the most volatile stocks traded on June 22 were: Danaos Corporation, CEVA Inc, Oncothyreon Inc, ReneSola Ltd, and La-Z-Boy Inc. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.
Shares of Danaos Corporation (DAC) traded higher by 13.27% or $0.69/share to $5.89. In the past year, the shares have traded as low as $3.50 and as high as $7.87. On average, 97110 shares of DAC exchange hands on a given day and today's volume is recorded at 353728. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $6.32 represents resistance and the 200-day moving average of $4.99 would be an area of support.
Shares of CEVA Inc. (CEVA) traded higher by 8.66% or $2.42/share to $30.35. In the past year, the shares have traded as low as $11.12 and as high as $35.60. On average, 221680 shares of CEVA exchange hands on a given day and today's volume is recorded at 443318. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $30.30 area where the stock will likely see buying pressure.
Shares of Oncothyreon Inc (ONTY) fell by 4.11% or $-0.35/share to $8.16. In the past year, the shares have traded as low as $2.99 and as high as $9.44. On average, 725900 shares of ONTY exchange hands on a given day and today's volume is recorded at 1708189. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $5.59 area where the stock will likely see buying pressure.
Shares of ReneSola Ltd. (SOL) traded higher by 14.68% or $0.64/share to $5.0. In the past year, the shares have traded as low as $4.33 and as high as $15.34. On average, 3579080 shares of SOL exchange hands on a given day and today's volume is recorded at 5642764. 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 $7.55 area but be careful because the stock may face selling pressure at this level.
Shares of La-Z-Boy Inc. (LZB) fell by 8.35% or $-0.91/share to $9.99. In the past year, the shares have traded as low as $6.44 and as high as $11.84. On average, 651160 shares of LZB exchange hands on a given day and today's volume is recorded at 1470056. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $10.67 represents resistance and the 200-day moving average of $9.17 would be an area of support.
