Stocks falling to new 52 week lows on August 8 are Radian Group Inc, MGIC Investment Corp, Quicksilver Resources Inc, Resource Capital Corp, and China Ming Yang Wind Power Group Limited. 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 Radian Group Inc. (RDN) fell by 15.98% or $-0.44/share to $2.32. In the past year, the shares have traded as low as $2.59 and as high as $10.11. On average, 4327340 shares of RDN exchange hands on a given day and today's volume is recorded at 3626594. 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 $3.94 area but be careful because the stock may face selling pressure at this level.
Shares of MGIC Investment Corp. (MTG) fell by 19.5% or $-0.62/share to $2.56. In the past year, the shares have traded as low as $3.03 and as high as $11.79. On average, 6050410 shares of MTG exchange hands on a given day and today's volume is recorded at 5093813. 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 $5.79 area but be careful because the stock may face selling pressure at this level.
Shares of Quicksilver Resources Inc. (KWK) fell by 14.04% or $-1.65/share to $10.1. In the past year, the shares have traded as low as $11.16 and as high as $15.98. On average, 3382680 shares of KWK exchange hands on a given day and today's volume is recorded at 5032175. 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 $14.33 area but be careful because the stock may face selling pressure at this level.
Shares of Resource Capital Corp. (RSO) fell by 5.93% or $-0.31/share to $4.93. In the past year, the shares have traded as low as $4.92 and as high as $7.05. On average, 862700 shares of RSO exchange hands on a given day and today's volume is recorded at 1410059. 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 $6.18 area but be careful because the stock may face selling pressure at this level.
Shares of China Ming Yang Wind Power Group Limited (MY) fell by 5.0% or $-0.20/share to $3.8. In the past year, the shares have traded as low as $3.98 and as high as $14.70. On average, 411830 shares of MY exchange hands on a given day and today's volume is recorded at 117686. 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 $5.72 area but be careful because the stock may face selling pressure at this level.
