Stocks falling to new 52 week lows on October 17 are First Solar, Inc, Endurance Specialty Holdings Ltd, MF Global Holdings Ltd, and Platinum Underwriters Holdings Ltd. 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 First Solar, Inc. (FSLR) fell by 4.13% or $-2.32/share to $53.91. In the past year, the shares have traded as low as $53.05 and as high as $175.43. On average, 2620340 shares of FSLR exchange hands on a given day and today's volume is recorded at 1900454. 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 $83.28 area but be careful because the stock may face selling pressure at this level.
Shares of Endurance Specialty Holdings Ltd. (ENH) fell by 3.25% or $-1.08/share to $32.15. In the past year, the shares have traded as low as $32.29 and as high as $49.54. On average, 411840 shares of ENH exchange hands on a given day and today's volume is recorded at 161503. 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 $34.80 area but be careful because the stock may face selling pressure at this level.
Shares of MF Global Holdings Ltd. (MF) fell by 6.31% or $-0.25/share to $3.71. In the past year, the shares have traded as low as $3.72 and as high as $9.28. On average, 3815880 shares of MF exchange hands on a given day and today's volume is recorded at 1887260. 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 $4.89 area but be careful because the stock may face selling pressure at this level.
Shares of Platinum Underwriters Holdings Ltd. (PTP) fell by 1.9% or $-0.54/share to $27.84. In the past year, the shares have traded as low as $27.78 and as high as $46.11. On average, 328530 shares of PTP exchange hands on a given day and today's volume is recorded at 83046. 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 $30.35 area but be careful because the stock may face selling pressure at this level.
