Among the most volatile stocks traded on August 24 were: Wet Seal Inc, JA Solar Holdings Co., Ltd, Power-One Inc, Energy XXI (Bermuda) Limited, and Perfect World Co., Ltd. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.
Shares of Wet Seal Inc. (WTSLA) traded higher by 8.78% or $0.38/share to $4.7. In the past year, the shares have traded as low as $2.77 and as high as $5.15. On average, 1783410 shares of WTSLA exchange hands on a given day and today's volume is recorded at 610872. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $4.60 area where the stock will likely see buying pressure.
Shares of JA Solar Holdings Co., Ltd. (JASO) traded higher by 8.83% or $0.28/share to $3.45. In the past year, the shares have traded as low as $3.17 and as high as $10.24. On average, 5471220 shares of JASO exchange hands on a given day and today's volume is recorded at 1608298. 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 $4.72 area but be careful because the stock may face selling pressure at this level.
Shares of Power-One Inc. (PWER) traded higher by 6.41% or $0.42/share to $6.96. In the past year, the shares have traded as low as $6.18 and as high as $12.93. On average, 2605580 shares of PWER exchange hands on a given day and today's volume is recorded at 806283. 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 $7.52 area but be careful because the stock may face selling pressure at this level.
Shares of Energy XXI (Bermuda) Limited (EXXI) traded higher by 5.9% or $1.30/share to $23.34. In the past year, the shares have traded as low as $17.02 and as high as $37.20. On average, 1119570 shares of EXXI exchange hands on a given day and today's volume is recorded at 547619. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $30.47 area where the stock may encounter resistance.
Shares of Perfect World Co., Ltd. (PWRD) traded higher by 14.95% or $2.78/share to $21.37. In the past year, the shares have traded as low as $15.92 and as high as $34.40. On average, 688940 shares of PWRD exchange hands on a given day and today's volume is recorded at 1283800. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $22.49 represents resistance and the 50-day moving average of $18.91 would be an area of support.
