Stocks falling to new 52 week lows on September 12 are Giant Interactive Group, Inc, Velti Plc, CTC Media, Inc, Pandora Media, Inc. Common Stoc, and ING Groep NV. 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 Giant Interactive Group, Inc. (GA) fell by 39.23% or $-3.06/share to $4.74. In the past year, the shares have traded as low as $5.90 and as high as $9.45. On average, 1104340 shares of GA exchange hands on a given day and today's volume is recorded at 1768901. 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 $7.55 area where the stock may encounter resistance.
Shares of Velti Plc (VELT) fell by 16.93% or $-1.31/share to $6.43. In the past year, the shares have traded as low as $7.25 and as high as $20.00. On average, 722500 shares of VELT exchange hands on a given day and today's volume is recorded at 929510. 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 $13.96 area but be careful because the stock may face selling pressure at this level.
Shares of CTC Media, Inc (CTCM) fell by 10.62% or $-1.45/share to $12.2. In the past year, the shares have traded as low as $13.50 and as high as $24.56. On average, 337320 shares of CTCM exchange hands on a given day and today's volume is recorded at 595259. 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 $18.14 area but be careful because the stock may face selling pressure at this level.
Shares of Pandora Media, Inc. Common Stoc (P) fell by 8.58% or $-0.89/share to $9.49. In the past year, the shares have traded as low as $10.33 and as high as $26.00. On average, 2279250 shares of P exchange hands on a given day and today's volume is recorded at 739465. 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 $14.97 area but be careful because the stock may face selling pressure at this level.
Shares of ING Groep NV (ING) fell by 7.53% or $-0.50/share to $6.14. In the past year, the shares have traded as low as $6.61 and as high as $13.41. On average, 3978200 shares of ING exchange hands on a given day and today's volume is recorded at 7584361. 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 $9.65 area but be careful because the stock may face selling pressure at this level.
