Stocks falling to new 52 week lows on November 21 are Lloyds Banking Group plc, ICICI Bank Ltd, Meritor, Inc, Sun Life Financial Inc, and Sterlite Industries (India) Ltd. 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 Lloyds Banking Group plc (LYG) fell by 8.23% or $-0.13/share to $1.45. In the past year, the shares have traded as low as $1.56 and as high as $4.48. On average, 4278040 shares of LYG exchange hands on a given day and today's volume is recorded at 2665205. 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 $2.02 area but be careful because the stock may face selling pressure at this level.
Shares of ICICI Bank Ltd. (IBN) fell by 6.65% or $-1.99/share to $27.93. In the past year, the shares have traded as low as $29.55 and as high as $53.13. On average, 2298120 shares of IBN exchange hands on a given day and today's volume is recorded at 1234947. 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 $35.09 area but be careful because the stock may face selling pressure at this level.
Shares of Meritor, Inc. (MTOR) fell by 5.57% or $-0.29/share to $4.92. In the past year, the shares have traded as low as $5.11 and as high as $22.65. On average, 2539280 shares of MTOR exchange hands on a given day and today's volume is recorded at 1850670. 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 $7.97 area but be careful because the stock may face selling pressure at this level.
Shares of Sun Life Financial Inc. (SLF) fell by 4.92% or $-0.96/share to $18.56. In the past year, the shares have traded as low as $19.48 and as high as $33.38. On average, 831900 shares of SLF exchange hands on a given day and today's volume is recorded at 296118. 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 $23.63 area but be careful because the stock may face selling pressure at this level.
Shares of Sterlite Industries (India) Ltd. (SLT) fell by 5.88% or $-0.49/share to $7.85. In the past year, the shares have traded as low as $8.26 and as high as $17.04. On average, 1327380 shares of SLT exchange hands on a given day and today's volume is recorded at 393575. 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 $9.78 area but be careful because the stock may face selling pressure at this level.
