Stocks falling to new 52 week lows on October 4 are DryShips, Inc, Mahanagar Telephone Nigam Ltd, Magnum Hunter Resources Corp, C&J Energy Services, Inc. Commo, and Ivanhoe Energy Inc. 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 DryShips, Inc. (DRYS) fell by 7.92% or $-0.16/share to $1.86. In the past year, the shares have traded as low as $1.99 and as high as $6.44. On average, 9503400 shares of DRYS exchange hands on a given day and today's volume is recorded at 5904419. 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 $2.96 area but be careful because the stock may face selling pressure at this level.
Shares of Mahanagar Telephone Nigam Ltd. (MTE) fell by 0.85% or $-0.01/share to $1.17. In the past year, the shares have traded as low as $1.18 and as high as $3.18. On average, 49980 shares of MTE exchange hands on a given day and today's volume is recorded at 61321. 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 $1.68 area but be careful because the stock may face selling pressure at this level.
Shares of Magnum Hunter Resources Corp. (MHR) fell by 4.78% or $-0.13/share to $2.59. In the past year, the shares have traded as low as $2.72 and as high as $8.66. On average, 3238390 shares of MHR exchange hands on a given day and today's volume is recorded at 2749727. 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 $4.79 area but be careful because the stock may face selling pressure at this level.
Shares of C&J Energy Services, Inc. Commo (CJES) fell by 8.18% or $-1.20/share to $13.47. In the past year, the shares have traded as low as $14.29 and as high as $32.94. On average, 842380 shares of CJES exchange hands on a given day and today's volume is recorded at 423570. 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 $23.93 area but be careful because the stock may face selling pressure at this level.
Shares of Ivanhoe Energy Inc. (IVAN) fell by 6.25% or $-0.06/share to $0.9. In the past year, the shares have traded as low as $0.95 and as high as $3.67. On average, 732980 shares of IVAN exchange hands on a given day and today's volume is recorded at 659360. 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 $1.46 area but be careful because the stock may face selling pressure at this level.
