Among the most volatile stocks traded on October 28 were: Spansion Inc, Callaway Golf Co, LDK Solar Co., Ltd, Computer Programs & Systems Inc, and Suntech Power Holdings Co. 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 Spansion Inc. (CODE) fell by 27.44% or $-3.83/share to $10.13. In the past year, the shares have traded as low as $11.15 and as high as $21.60. On average, 426790 shares of CODE exchange hands on a given day and today's volume is recorded at 963244. 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 $13.55 area but be careful because the stock may face selling pressure at this level.
Shares of Callaway Golf Co. (ELY) fell by 0.5% or $-0.03/share to $5.96. In the past year, the shares have traded as low as $4.70 and as high as $8.44. On average, 769390 shares of ELY exchange hands on a given day and today's volume is recorded at 268878. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $6.53 represents resistance and the 50-day moving average of $5.50 would be an area of support.
Shares of LDK Solar Co., Ltd. (LDK) traded higher by 11.6% or $0.47/share to $4.52. In the past year, the shares have traded as low as $2.55 and as high as $15.10. On average, 3535290 shares of LDK exchange hands on a given day and today's volume is recorded at 2066289. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $8.45 represents resistance and the 50-day moving average of $4.33 would be an area of support.
Shares of Computer Programs & Systems Inc. (CPSI) fell by 25.9% or $-18.48/share to $52.87. In the past year, the shares have traded as low as $42.52 and as high as $78.57. On average, 106160 shares of CPSI exchange hands on a given day and today's volume is recorded at 516468. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $61.31 area where the stock may encounter resistance.
Shares of Suntech Power Holdings Co. Ltd. (STP) traded higher by 6.27% or $0.20/share to $3.39. In the past year, the shares have traded as low as $1.70 and as high as $10.83. On average, 4507820 shares of STP exchange hands on a given day and today's volume is recorded at 5003060. 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 $3.49 area but be careful because the stock may face selling pressure at this level.
