Stocks falling to new 52 week lows on December 9 are Spansion Inc, Digital River Inc, and Broadcom Corp. 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 Spansion Inc. (CODE) traded higher by 0.83% or $0.07/share to $8.46. In the past year, the shares have traded as low as $8.31 and as high as $21.60. On average, 411380 shares of CODE exchange hands on a given day and today's volume is recorded at 42986. 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 $10.99 area but be careful because the stock may face selling pressure at this level.
Shares of Digital River Inc. (DRIV) traded higher by 2.29% or $0.34/share to $15.2. In the past year, the shares have traded as low as $14.76 and as high as $39.85. On average, 737790 shares of DRIV exchange hands on a given day and today's volume is recorded at 536762. 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 $18.51 area but be careful because the stock may face selling pressure at this level.
Shares of Broadcom Corp. (BRCM) traded higher by 0.47% or $0.14/share to $29.91. In the past year, the shares have traded as low as $29.17 and as high as $46.89. On average, 8513550 shares of BRCM exchange hands on a given day and today's volume is recorded at 4718297. 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 $34.09 area but be careful because the stock may face selling pressure at this level.
