Stocks falling to new 52 week lows on October 3 are Focus Media Holding Ltd, Home Inns & Hotels Management Inc, Isoftstone Holdings Limited, C&J Energy Services, Inc. Commo, and Magnum Hunter Resources Corp. 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 Focus Media Holding Ltd. (FMCN) fell by 17.29% or $-3.52/share to $16.84. In the past year, the shares have traded as low as $19.89 and as high as $37.58. On average, 2754460 shares of FMCN exchange hands on a given day and today's volume is recorded at 14373000. 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 $28.94 area where the stock may encounter resistance.
Shares of Home Inns & Hotels Management Inc. (HMIN) fell by 12.61% or $-3.72/share to $25.77. In the past year, the shares have traded as low as $26.15 and as high as $54.25. On average, 607980 shares of HMIN exchange hands on a given day and today's volume is recorded at 3402000. 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 $36.09 area but be careful because the stock may face selling pressure at this level.
Shares of Isoftstone Holdings Limited (ISS) fell by 14.94% or $-1.14/share to $6.49. In the past year, the shares have traded as low as $7.45 and as high as $22.63. On average, 317620 shares of ISS exchange hands on a given day and today's volume is recorded at 336700. 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 $10.27 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 8.46% or $-1.52/share to $16.44. In the past year, the shares have traded as low as $17.16 and as high as $32.94. On average, 815720 shares of CJES exchange hands on a given day and today's volume is recorded at 2509400. 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 $24.31 area but be careful because the stock may face selling pressure at this level.
Shares of Magnum Hunter Resources Corp. (MHR) fell by 10.54% or $-0.39/share to $3.31. In the past year, the shares have traded as low as $3.60 and as high as $8.66. On average, 3180400 shares of MHR exchange hands on a given day and today's volume is recorded at 4413800. 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 $4.97 area but be careful because the stock may face selling pressure at this level.
