Stocks falling to new 52 week lows on September 29 are Yingli Green Energy Holding Co. Ltd, Dendreon Corp, Trina Solar Ltd, US Gold Corporation, and Changyou.com 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 Yingli Green Energy Holding Co. Ltd. (YGE) fell by 4.36% or $-0.14/share to $3.07. In the past year, the shares have traded as low as $3.19 and as high as $14.29. On average, 4748860 shares of YGE exchange hands on a given day and today's volume is recorded at 1742055. 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 $5.57 area but be careful because the stock may face selling pressure at this level.
Shares of Dendreon Corp. (DNDN) fell by 4.82% or $-0.44/share to $8.68. In the past year, the shares have traded as low as $9.10 and as high as $43.95. On average, 6137820 shares of DNDN exchange hands on a given day and today's volume is recorded at 1863065. 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 $17.14 area but be careful because the stock may face selling pressure at this level.
Shares of Trina Solar Ltd. (TSL) fell by 3.23% or $-0.21/share to $6.29. In the past year, the shares have traded as low as $6.50 and as high as $31.90. On average, 3610570 shares of TSL exchange hands on a given day and today's volume is recorded at 1532101. 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 $13.68 area but be careful because the stock may face selling pressure at this level.
Shares of US Gold Corporation (UXG) fell by 3.39% or $-0.14/share to $3.85. In the past year, the shares have traded as low as $3.96 and as high as $9.88. On average, 2876610 shares of UXG exchange hands on a given day and today's volume is recorded at 1156185. 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 $6.00 area but be careful because the stock may face selling pressure at this level.
Shares of Changyou.com Limited (CYOU) fell by 5.6% or $-1.55/share to $26.15. In the past year, the shares have traded as low as $26.80 and as high as $52.00. On average, 371780 shares of CYOU exchange hands on a given day and today's volume is recorded at 121956. 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 $37.23 area where the stock may encounter resistance.
