Among the most volatile stocks traded on September 29 were: Youku.com Inc, Sina Corp, SouFun Holdings Ltd, Star Scientific, Inc, and Baidu, 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 Youku.com Inc (YOKU) fell by 15.09% or $-3.00/share to $16.88. In the past year, the shares have traded as low as $13.76 and as high as $69.95. On average, 4244800 shares of YOKU exchange hands on a given day and today's volume is recorded at 1930837. 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 $25.28 area but be careful because the stock may face selling pressure at this level.
Shares of Sina Corp. (SINA) fell by 15.03% or $-12.19/share to $68.91. In the past year, the shares have traded as low as $48.50 and as high as $147.12. On average, 6461720 shares of SINA exchange hands on a given day and today's volume is recorded at 7602725. 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 $98.95 area where the stock may encounter resistance.
Shares of SouFun Holdings Ltd. (SFUN) fell by 7.35% or $-0.90/share to $11.35. In the past year, the shares have traded as low as $11.73 and as high as $27.57. On average, 231440 shares of SFUN exchange hands on a given day and today's volume is recorded at 129437. 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 $18.03 area but be careful because the stock may face selling pressure at this level.
Shares of Star Scientific, Inc. (CIGX) fell by 9.06% or $-0.22/share to $2.24. In the past year, the shares have traded as low as $1.50 and as high as $5.36. On average, 2536500 shares of CIGX exchange hands on a given day and today's volume is recorded at 879133. 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 $3.09 area but be careful because the stock may face selling pressure at this level.
Shares of Baidu, Inc. (BIDU) fell by 9.36% or $-11.37/share to $110.06. In the past year, the shares have traded as low as $94.33 and as high as $165.98. On average, 9387580 shares of BIDU exchange hands on a given day and today's volume is recorded at 9890994. 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 $130.39 area where the stock may encounter resistance.
