Stocks falling to new 52 week lows on August 24 are Sony Corporation, Taseko Mines Ltd, Hanwha SolarOne, Ltd, Synutra International Inc, and Flagstone Reinsurance Holdings SA. 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 Sony Corporation (SNE) fell by 3.71% or $-0.78/share to $20.22. In the past year, the shares have traded as low as $20.47 and as high as $36.97. On average, 1222130 shares of SNE exchange hands on a given day and today's volume is recorded at 655136. 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 $24.76 area but be careful because the stock may face selling pressure at this level.
Shares of Taseko Mines Ltd. (TGB) fell by 3.53% or $-0.12/share to $3.28. In the past year, the shares have traded as low as $3.31 and as high as $7.23. On average, 1383200 shares of TGB exchange hands on a given day and today's volume is recorded at 448144. 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 $4.30 area but be careful because the stock may face selling pressure at this level.
Shares of Hanwha SolarOne, Ltd. (HSOL) fell by 4.92% or $-0.19/share to $3.67. In the past year, the shares have traded as low as $3.47 and as high as $13.48. On average, 1083240 shares of HSOL exchange hands on a given day and today's volume is recorded at 775797. 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 $5.23 area but be careful because the stock may face selling pressure at this level.
Shares of Synutra International Inc. (SYUT) fell by 0.44% or $-0.03/share to $6.77. In the past year, the shares have traded as low as $6.66 and as high as $14.80. On average, 68280 shares of SYUT exchange hands on a given day and today's volume is recorded at 35599. 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 $8.85 area but be careful because the stock may face selling pressure at this level.
Shares of Flagstone Reinsurance Holdings SA (FSR) fell by 2.72% or $-0.20/share to $7.14. In the past year, the shares have traded as low as $7.20 and as high as $13.04. On average, 270820 shares of FSR exchange hands on a given day and today's volume is recorded at 75688. 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 $8.25 area but be careful because the stock may face selling pressure at this level.
