Stocks falling to new 52 week lows on August 3 are RLJ Lodging Trust Common Shares, DryShips, Inc, Ship Finance International Limited, GOL Linhas A, 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 RLJ Lodging Trust Common Shares (RLJ) fell by 6.26% or $-1.04/share to $15.57. In the past year, the shares have traded as low as $16.57 and as high as $18.30. On average, 472960 shares of RLJ exchange hands on a given day and today's volume is recorded at 174787. 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 $17.61 area but be careful because the stock may face selling pressure at this level.
Shares of DryShips, Inc. (DRYS) fell by 5.87% or $-0.21/share to $3.34. In the past year, the shares have traded as low as $3.52 and as high as $6.44. On average, 8944180 shares of DRYS exchange hands on a given day and today's volume is recorded at 13029268. 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 $3.93 area but be careful because the stock may face selling pressure at this level.
Shares of Ship Finance International Limited (SFL) fell by 5.63% or $-0.84/share to $14.07. In the past year, the shares have traded as low as $14.91 and as high as $22.18. On average, 379280 shares of SFL exchange hands on a given day and today's volume is recorded at 590471. 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 $17.43 area but be careful because the stock may face selling pressure at this level.
Shares of GOL Linhas A (GOL) fell by 7.76% or $-0.59/share to $7.01. In the past year, the shares have traded as low as $7.56 and as high as $18.50. On average, 1436250 shares of GOL exchange hands on a given day and today's volume is recorded at 1859753. 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 $11.65 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 4.99% or $-0.24/share to $4.57. In the past year, the shares have traded as low as $4.75 and as high as $14.70. On average, 409830 shares of MY exchange hands on a given day and today's volume is recorded at 128204. 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 $5.90 area but be careful because the stock may face selling pressure at this level.
