Stocks falling to new 52 week lows on October 28 are Spansion Inc, Avid Technology Inc, Agnico-Eagle Mines Ltd, and RPX Corporation. 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 Spansion Inc. (CODE) fell by 25.29% or $-3.53/share to $10.43. In the past year, the shares have traded as low as $11.15 and as high as $21.60. On average, 426790 shares of CODE exchange hands on a given day and today's volume is recorded at 1350233. 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 $13.55 area but be careful because the stock may face selling pressure at this level.
Shares of Avid Technology Inc. (AVID) fell by 16.84% or $-1.33/share to $6.57. In the past year, the shares have traded as low as $7.01 and as high as $23.35. On average, 234790 shares of AVID exchange hands on a given day and today's volume is recorded at 778028. 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 $8.61 area but be careful because the stock may face selling pressure at this level.
Shares of Agnico-Eagle Mines Ltd. (AEM) traded higher by 1.58% or $0.67/share to $43.35. In the past year, the shares have traded as low as $42.30 and as high as $87.59. On average, 2690540 shares of AEM exchange hands on a given day and today's volume is recorded at 1848084. 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 $61.68 area but be careful because the stock may face selling pressure at this level.
Shares of RPX Corporation (RPXC) traded higher by 0.59% or $0.09/share to $15.34. In the past year, the shares have traded as low as $15.20 and as high as $31.41. On average, 190750 shares of RPXC exchange hands on a given day and today's volume is recorded at 114908. 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 $21.68 area but be careful because the stock may face selling pressure at this level.
