Stocks falling to new 52 week lows on July 8 are Allied Irish Banks plc, Gafisa S.A, Frontline Ltd, Forest Oil Corp, and Motorola Mobility Holdings, Inc. 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 Allied Irish Banks plc (AIB) fell by 5.11% or $-0.09/share to $1.76. In the past year, the shares have traded as low as $1.84 and as high as $13.61. On average, 810670 shares of AIB exchange hands on a given day and today's volume is recorded at 518389. 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 $2.64 area but be careful because the stock may face selling pressure at this level.
Shares of Gafisa S.A. (GFA) fell by 3.06% or $-0.28/share to $8.86. In the past year, the shares have traded as low as $9.06 and as high as $17.82. On average, 3994950 shares of GFA exchange hands on a given day and today's volume is recorded at 930240. 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 $10.36 area but be careful because the stock may face selling pressure at this level.
Shares of Frontline Ltd. (FRO) fell by 3.64% or $-0.51/share to $13.51. In the past year, the shares have traded as low as $13.61 and as high as $32.38. On average, 1586150 shares of FRO exchange hands on a given day and today's volume is recorded at 384698. 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 $17.93 area but be careful because the stock may face selling pressure at this level.
Shares of Forest Oil Corp. (FST) fell by 1.32% or $-0.32/share to $23.92. In the past year, the shares have traded as low as $23.90 and as high as $40.23. On average, 3080310 shares of FST exchange hands on a given day and today's volume is recorded at 1171154. 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 $29.02 area but be careful because the stock may face selling pressure at this level.
Shares of Motorola Mobility Holdings, Inc. (MMI) fell by 3.89% or $-0.88/share to $21.76. In the past year, the shares have traded as low as $21.88 and as high as $36.54. On average, 2952600 shares of MMI exchange hands on a given day and today's volume is recorded at 1655212. 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 $23.99 area but be careful because the stock may face selling pressure at this level.
