Stocks falling to new 52 week lows on October 3 are Aluminum Corporation Of China Limited, Homex Development Corp, China Lodging Group, Limited, SouFun Holdings Ltd, and Veeco Instruments 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 Aluminum Corporation Of China Limited (ACH) fell by 10.54% or $-1.23/share to $10.44. In the past year, the shares have traded as low as $11.16 and as high as $26.75. On average, 404230 shares of ACH exchange hands on a given day and today's volume is recorded at 756300. 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 $16.59 area but be careful because the stock may face selling pressure at this level.
Shares of Homex Development Corp. (HXM) fell by 5.06% or $-0.72/share to $13.5. In the past year, the shares have traded as low as $13.92 and as high as $35.89. On average, 230720 shares of HXM exchange hands on a given day and today's volume is recorded at 208400. 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 $20.01 area but be careful because the stock may face selling pressure at this level.
Shares of China Lodging Group, Limited (HTHT) fell by 1.79% or $-0.25/share to $13.69. In the past year, the shares have traded as low as $13.34 and as high as $27.50. On average, 185100 shares of HTHT exchange hands on a given day and today's volume is recorded at 290600. 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 $16.33 area but be careful because the stock may face selling pressure at this level.
Shares of SouFun Holdings Ltd. (SFUN) fell by 8.45% or $-0.94/share to $10.18. In the past year, the shares have traded as low as $10.77 and as high as $27.57. On average, 238830 shares of SFUN exchange hands on a given day and today's volume is recorded at 515800. 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 $17.78 area but be careful because the stock may face selling pressure at this level.
Shares of Veeco Instruments Inc. (VECO) fell by 10.2% or $-2.77/share to $24.4. In the past year, the shares have traded as low as $26.00 and as high as $57.67. On average, 1907790 shares of VECO exchange hands on a given day and today's volume is recorded at 2689700. 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 $34.40 area but be careful because the stock may face selling pressure at this level.
