Stocks falling to new 52 week lows on July 8 are Cree Inc, MEMC Electronic Materials Inc, and Multi-Fineline Electronix 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 Cree Inc. (CREE) fell by 4.72% or $-1.58/share to $31.9. In the past year, the shares have traded as low as $31.55 and as high as $76.13. On average, 3671240 shares of CREE exchange hands on a given day and today's volume is recorded at 3141603. 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 $38.41 area but be careful because the stock may face selling pressure at this level.
Shares of MEMC Electronic Materials Inc. (WFR) fell by 3.17% or $-0.26/share to $7.95. In the past year, the shares have traded as low as $7.94 and as high as $15.04. On average, 6103720 shares of WFR exchange hands on a given day and today's volume is recorded at 1910849. 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 $9.73 area but be careful because the stock may face selling pressure at this level.
Shares of Multi-Fineline Electronix Inc. (MFLX) fell by 6.76% or $-1.47/share to $20.26. In the past year, the shares have traded as low as $19.49 and as high as $29.99. On average, 82810 shares of MFLX exchange hands on a given day and today's volume is recorded at 85218. 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 $22.01 area but be careful because the stock may face selling pressure at this level.
