Stocks falling to new 52 week lows on October 12 are First Solar, Inc, and EXFO 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 First Solar, Inc. (FSLR) traded higher by 1.32% or $0.74/share to $56.65. In the past year, the shares have traded as low as $54.92 and as high as $175.44. On average, 2524180 shares of FSLR exchange hands on a given day and today's volume is recorded at 2283864. 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 $86.65 area but be careful because the stock may face selling pressure at this level.
Shares of EXFO Inc (EXFO) fell by 6.66% or $-0.40/share to $5.61. In the past year, the shares have traded as low as $5.47 and as high as $13.19. On average, 53380 shares of EXFO exchange hands on a given day and today's volume is recorded at 155758. 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 $6.77 area but be careful because the stock may face selling pressure at this level.
