Stocks falling to new 52 week lows on October 10 are City Telecom HK Ltd, and Human Genome Sciences 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 City Telecom HK Ltd. (CTEL) fell by 0.22% or $-0.02/share to $9.23. In the past year, the shares have traded as low as $9.20 and as high as $15.55. On average, 62300 shares of CTEL exchange hands on a given day and today's volume is recorded at 31891. 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 $9.76 area but be careful because the stock may face selling pressure at this level.
Shares of Human Genome Sciences Inc. (HGSI) fell by 6.25% or $-0.75/share to $11.25. In the past year, the shares have traded as low as $11.05 and as high as $30.15. On average, 4503700 shares of HGSI exchange hands on a given day and today's volume is recorded at 2778651. 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 $13.96 area but be careful because the stock may face selling pressure at this level.
