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Thursday, July 7, 2011

New Low Point: (FST), (MX), (AIB), (LPS)

Stocks falling to new 52 week lows on July 7 are Forest Oil Corp, MagnaChip Semiconductor, Allied Irish Banks plc, and Lender Processing Services, 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 Forest Oil Corp. (FST) fell by 11.44% or $-3.21/share to $24.86. In the past year, the shares have traded as low as $24.56 and as high as $40.23. On average, 2848050 shares of FST exchange hands on a given day and today's volume is recorded at 7349165. 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 $29.23 area but be careful because the stock may face selling pressure at this level.

Shares of MagnaChip Semiconductor (MX) fell by 3.85% or $-0.43/share to $10.74. In the past year, the shares have traded as low as $10.96 and as high as $15.56. On average, 114590 shares of MX exchange hands on a given day and today's volume is recorded at 122682. 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 $13.21 area but be careful because the stock may face selling pressure at this level.

Shares of Allied Irish Banks plc (AIB) fell by 5.47% or $-0.11/share to $1.9. In the past year, the shares have traded as low as $1.95 and as high as $13.65. On average, 814390 shares of AIB exchange hands on a given day and today's volume is recorded at 896609. 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 $2.67 area but be careful because the stock may face selling pressure at this level.

Shares of Lender Processing Services, Inc. (LPS) fell by 3.89% or $-0.80/share to $19.74. In the past year, the shares have traded as low as $19.55 and as high as $34.75. On average, 1542560 shares of LPS exchange hands on a given day and today's volume is recorded at 2635381. 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 $25.15 area but be careful because the stock may face selling pressure at this level.