Among the most volatile stocks traded on November 21 were: Avanir Pharmaceuticals, Inhibitex, Inc, eLong Inc, Clearwire Corporation, and Shanda Games Limited. 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 Avanir Pharmaceuticals (AVNR) fell by 7.97% or $-0.20/share to $2.31. In the past year, the shares have traded as low as $2.46 and as high as $4.80. On average, 1587490 shares of AVNR exchange hands on a given day and today's volume is recorded at 776267. 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 $2.87 area but be careful because the stock may face selling pressure at this level.
Shares of Inhibitex, Inc. (INHX) traded higher by 16.13% or $1.44/share to $10.37. In the past year, the shares have traded as low as $2.00 and as high as $10.60. On average, 1418540 shares of INHX exchange hands on a given day and today's volume is recorded at 6576771. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $4.56 area where the stock will likely see buying pressure.
Shares of eLong Inc. (LONG) traded higher by 12.96% or $1.81/share to $15.78. In the past year, the shares have traded as low as $12.18 and as high as $29.60. On average, 8940 shares of LONG exchange hands on a given day and today's volume is recorded at 45546. 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 $17.50 represents resistance and the 50-day moving average of $15.61 would be an area of support.
Shares of Clearwire Corporation (CLWR) traded higher by 10.2% or $0.15/share to $1.62. In the past year, the shares have traded as low as $1.24 and as high as $7.37. On average, 7721070 shares of CLWR exchange hands on a given day and today's volume is recorded at 3116838. 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 $1.98 area but be careful because the stock may face selling pressure at this level.
Shares of Shanda Games Limited (GAME) fell by 6.35% or $-0.28/share to $4.13. In the past year, the shares have traded as low as $3.46 and as high as $7.70. On average, 707330 shares of GAME exchange hands on a given day and today's volume is recorded at 270016. 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 $4.82 area but be careful because the stock may face selling pressure at this level.
