Stocks falling to new 52 week lows on August 24 are China Life Insurance Co. Ltd, Mitsubishi UFJ Financial Group, Inc, Human Genome Sciences Inc, Tata Motors Ltd, and Sumitomo Mitsui Financial Group 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 China Life Insurance Co. Ltd. (LFC) fell by 5.44% or $-2.27/share to $39.46. In the past year, the shares have traded as low as $40.36 and as high as $69.57. On average, 522510 shares of LFC exchange hands on a given day and today's volume is recorded at 546972. 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 $48.42 area but be careful because the stock may face selling pressure at this level.
Shares of Mitsubishi UFJ Financial Group, Inc. (MTU) fell by 3.55% or $-0.16/share to $4.26. In the past year, the shares have traded as low as $4.36 and as high as $5.68. On average, 2441160 shares of MTU exchange hands on a given day and today's volume is recorded at 3697364. 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 $4.80 area but be careful because the stock may face selling pressure at this level.
Shares of Human Genome Sciences Inc. (HGSI) fell by 5.18% or $-0.74/share to $13.55. In the past year, the shares have traded as low as $13.55 and as high as $30.48. On average, 3127680 shares of HGSI exchange hands on a given day and today's volume is recorded at 3153736. 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 $21.11 area but be careful because the stock may face selling pressure at this level.
Shares of Tata Motors Ltd. (TTM) fell by 3.78% or $-0.61/share to $15.51. In the past year, the shares have traded as low as $15.38 and as high as $36.94. On average, 2492270 shares of TTM exchange hands on a given day and today's volume is recorded at 1343226. 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 $20.65 area but be careful because the stock may face selling pressure at this level.
Shares of Sumitomo Mitsui Financial Group Inc. (SMFG) fell by 5.7% or $-0.33/share to $5.45. In the past year, the shares have traded as low as $5.52 and as high as $7.77. On average, 335240 shares of SMFG exchange hands on a given day and today's volume is recorded at 294335. 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 $6.02 area but be careful because the stock may face selling pressure at this level.
