Stocks falling to new 52 week lows on December 28 are Sears Holdings Corporation, Mechel OAO, Molycorp, Inc, Gafisa S.A, and Seabridge Gold, 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 Sears Holdings Corporation (SHLD) traded higher by 1.44% or $0.48/share to $33.86. In the past year, the shares have traded as low as $33.26 and as high as $94.79. On average, 915470 shares of SHLD exchange hands on a given day and today's volume is recorded at 2018939. 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 $64.31 area but be careful because the stock may face selling pressure at this level.
Shares of Mechel OAO (MTL) fell by 2.69% or $-0.22/share to $7.97. In the past year, the shares have traded as low as $8.10 and as high as $34.74. On average, 3641760 shares of MTL exchange hands on a given day and today's volume is recorded at 1351985. 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 $10.86 area but be careful because the stock may face selling pressure at this level.
Shares of Molycorp, Inc. (MCP) fell by 10.64% or $-2.98/share to $25.02. In the past year, the shares have traded as low as $25.60 and as high as $79.15. On average, 4087640 shares of MCP exchange hands on a given day and today's volume is recorded at 2981825. 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 $33.35 area but be careful because the stock may face selling pressure at this level.
Shares of Gafisa S.A. (GFA) fell by 3.28% or $-0.15/share to $4.42. In the past year, the shares have traded as low as $4.50 and as high as $14.82. On average, 3727700 shares of GFA exchange hands on a given day and today's volume is recorded at 596155. 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 $6.25 area but be careful because the stock may face selling pressure at this level.
Shares of Seabridge Gold, Inc. (SA) fell by 1.92% or $-0.32/share to $16.34. In the past year, the shares have traded as low as $16.58 and as high as $36.22. On average, 288740 shares of SA exchange hands on a given day and today's volume is recorded at 120686. 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 $21.84 area but be careful because the stock may face selling pressure at this level.
