Stocks falling to new 52 week lows on November 11 are Alcatel-Lucent, S.A, State Auto Financial Corp, and Enzon Pharmaceuticals 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 Alcatel-Lucent, S.A. (ALU) fell by 1.49% or $-0.03/share to $1.99. In the past year, the shares have traded as low as $1.96 and as high as $6.63. On average, 25963990 shares of ALU exchange hands on a given day and today's volume is recorded at 18360116. 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 $2.84 area but be careful because the stock may face selling pressure at this level.
Shares of State Auto Financial Corp. (STFC) fell by 1.28% or $-0.15/share to $11.55. In the past year, the shares have traded as low as $11.57 and as high as $17.97. On average, 60140 shares of STFC exchange hands on a given day and today's volume is recorded at 27333. 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 $12.67 area but be careful because the stock may face selling pressure at this level.
Shares of Enzon Pharmaceuticals Inc. (ENZN) fell by 1.04% or $-0.07/share to $6.67. In the past year, the shares have traded as low as $6.62 and as high as $12.71. On average, 282740 shares of ENZN exchange hands on a given day and today's volume is recorded at 38592. 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 $7.57 area but be careful because the stock may face selling pressure at this level.
