Among the most volatile stocks traded on October 6 were: Level 3 Communications Inc, Ruby Tuesday, Inc, ZAGG Incorporated, Molycorp, Inc, and Trina Solar Ltd. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.
Shares of Level 3 Communications Inc. (LVLT) traded higher by 13.82% or $0.21/share to $1.73. In the past year, the shares have traded as low as $0.83 and as high as $2.67. On average, 27834510 shares of LVLT exchange hands on a given day and today's volume is recorded at 25716938. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $1.74 represents resistance and the 200-day moving average of $1.68 would be an area of support.
Shares of Ruby Tuesday, Inc. (RT) traded higher by 3.07% or $0.22/share to $7.38. In the past year, the shares have traded as low as $6.56 and as high as $15.57. On average, 915250 shares of RT exchange hands on a given day and today's volume is recorded at 950581. 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 $7.91 area but be careful because the stock may face selling pressure at this level.
Shares of ZAGG Incorporated (ZAGG) traded higher by 11.92% or $1.31/share to $12.3. In the past year, the shares have traded as low as $5.07 and as high as $17.10. On average, 1743900 shares of ZAGG exchange hands on a given day and today's volume is recorded at 931419. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $13.52 represents resistance and the 200-day moving average of $10.72 would be an area of support.
Shares of Molycorp, Inc. (MCP) traded higher by 13.24% or $4.27/share to $36.53. In the past year, the shares have traded as low as $26.02 and as high as $79.15. On average, 5441600 shares of MCP exchange hands on a given day and today's volume is recorded at 3194369. 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 $50.19 area but be careful because the stock may face selling pressure at this level.
Shares of Trina Solar Ltd. (TSL) traded higher by 12.08% or $0.91/share to $8.44. In the past year, the shares have traded as low as $5.28 and as high as $31.89. On average, 3805000 shares of TSL exchange hands on a given day and today's volume is recorded at 2822595. 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 $12.42 area but be careful because the stock may face selling pressure at this level.
