Among the most volatile stocks traded on October 11 were: Abraxas Petroleum Corp, Renren Inc. American Depositary, Charming Shoppes Inc, Sify Technologies Limited, and Pendrell Corporation. 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 Abraxas Petroleum Corp. (AXAS) traded higher by 2.13% or $0.07/share to $3.36. In the past year, the shares have traded as low as $1.86 and as high as $6.16. On average, 2091639 shares of AXAS exchange hands on a given day and today's volume is recorded at 451024. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $4.24 represents resistance and the 50-day moving average of $3.29 would be an area of support.
Shares of Renren Inc. American Depositary (RENN) traded higher by 7.0% or $0.39/share to $5.89. In the past year, the shares have traded as low as $4.50 and as high as $24.02. On average, 3895290 shares of RENN exchange hands on a given day and today's volume is recorded at 1834725. 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 $6.82 area but be careful because the stock may face selling pressure at this level.
Shares of Charming Shoppes Inc. (CHRS) traded higher by 6.92% or $0.18/share to $2.78. In the past year, the shares have traded as low as $2.29 and as high as $4.93. On average, 2014220 shares of CHRS exchange hands on a given day and today's volume is recorded at 561842. 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 $2.94 area but be careful because the stock may face selling pressure at this level.
Shares of Sify Technologies Limited (SIFY) traded higher by 7.1% or $0.22/share to $3.32. In the past year, the shares have traded as low as $1.66 and as high as $8.54. On average, 1289750 shares of SIFY exchange hands on a given day and today's volume is recorded at 464811. 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 $4.17 area where the stock may encounter resistance.
Shares of Pendrell Corporation (PCO) traded higher by 0.83% or $0.02/share to $2.42. In the past year, the shares have traded as low as $1.35 and as high as $3.26. On average, 505530 shares of PCO exchange hands on a given day and today's volume is recorded at 15809. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $2.40 area.
