Stocks falling to new 52 week lows on September 28 are Pinnacle Entertainment Inc, Teekay Tankers Ltd, Iridium Communications Inc, Standard Microsystems Corp, and Nordic American Tanker Shipping Ltd. 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 Pinnacle Entertainment Inc. (PNK) fell by 3.42% or $-0.35/share to $9.89. In the past year, the shares have traded as low as $9.78 and as high as $15.57. On average, 730400 shares of PNK exchange hands on a given day and today's volume is recorded at 593478. 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 $12.45 area but be careful because the stock may face selling pressure at this level.
Shares of Teekay Tankers Ltd. (TNK) fell by 7.73% or $-0.43/share to $5.13. In the past year, the shares have traded as low as $5.19 and as high as $12.01. On average, 459800 shares of TNK exchange hands on a given day and today's volume is recorded at 292053. 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 $6.59 area but be careful because the stock may face selling pressure at this level.
Shares of Iridium Communications Inc. (IRDM) fell by 3.78% or $-0.25/share to $6.37. In the past year, the shares have traded as low as $6.45 and as high as $10.04. On average, 472580 shares of IRDM exchange hands on a given day and today's volume is recorded at 97092. 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 $7.54 area but be careful because the stock may face selling pressure at this level.
Shares of Standard Microsystems Corp. (SMSC) fell by 4.24% or $-0.87/share to $19.65. In the past year, the shares have traded as low as $18.72 and as high as $30.40. On average, 160110 shares of SMSC exchange hands on a given day and today's volume is recorded at 274098. 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 $21.48 area but be careful because the stock may face selling pressure at this level.
Shares of Nordic American Tanker Shipping Ltd. (NAT) fell by 1.82% or $-0.28/share to $15.1. In the past year, the shares have traded as low as $15.20 and as high as $26.21. On average, 419550 shares of NAT exchange hands on a given day and today's volume is recorded at 76344. 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 $17.96 area but be careful because the stock may face selling pressure at this level.
