Among the most volatile stocks traded on September 29 were: Ctrip.com International Ltd, Wynn Resorts Ltd, Molycorp, Inc, Focus Media Holding Ltd, and Sohu.com Inc. 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 Ctrip.com International Ltd. (CTRP) fell by 5.84% or $-1.97/share to $31.7. In the past year, the shares have traded as low as $31.45 and as high as $53.15. On average, 2145150 shares of CTRP exchange hands on a given day and today's volume is recorded at 2759984. 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 $39.71 area but be careful because the stock may face selling pressure at this level.
Shares of Wynn Resorts Ltd. (WYNN) fell by 8.92% or $-12.09/share to $123.4. In the past year, the shares have traded as low as $85.16 and as high as $172.06. On average, 2645190 shares of WYNN exchange hands on a given day and today's volume is recorded at 3864587. 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 $134.15 area where the stock may encounter resistance.
Shares of Molycorp, Inc. (MCP) fell by 5.54% or $-1.95/share to $33.33. In the past year, the shares have traded as low as $23.60 and as high as $79.17. On average, 5382310 shares of MCP exchange hands on a given day and today's volume is recorded at 2327436. 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 $52.92 area but be careful because the stock may face selling pressure at this level.
Shares of Focus Media Holding Ltd. (FMCN) fell by 10.87% or $-2.70/share to $22.17. In the past year, the shares have traded as low as $20.59 and as high as $37.57. On average, 2397270 shares of FMCN exchange hands on a given day and today's volume is recorded at 3198070. 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 $28.95 area where the stock may encounter resistance.
Shares of Sohu.com Inc. (SOHU) fell by 9.87% or $-5.24/share to $47.87. In the past year, the shares have traded as low as $52.59 and as high as $109.37. On average, 1877730 shares of SOHU exchange hands on a given day and today's volume is recorded at 1832422. 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 $75.03 area but be careful because the stock may face selling pressure at this level.
