Stocks falling to new 52 week lows on December 28 are Transocean Ltd, Grupo Financiero Galicia S.A, India Fund, Inc, WuXi PharmaTech (Cayman) 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 Transocean Ltd. (RIG) fell by 1.72% or $-0.67/share to $38.47. In the past year, the shares have traded as low as $38.76 and as high as $82.24. On average, 7954350 shares of RIG exchange hands on a given day and today's volume is recorded at 1229076. 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 $46.98 area but be careful because the stock may face selling pressure at this level.
Shares of Grupo Financiero Galicia S.A. (GGAL) fell by 1.38% or $-0.08/share to $5.73. In the past year, the shares have traded as low as $5.80 and as high as $16.87. On average, 402860 shares of GGAL exchange hands on a given day and today's volume is recorded at 297285. 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 $7.51 area but be careful because the stock may face selling pressure at this level.
Shares of India Fund, Inc. (IFN) fell by 1.9% or $-0.37/share to $19.09. In the past year, the shares have traded as low as $19.28 and as high as $34.75. On average, 300310 shares of IFN exchange hands on a given day and today's volume is recorded at 131874. 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 $22.50 area but be careful because the stock may face selling pressure at this level.
Shares of WuXi PharmaTech (Cayman) Inc. (WX) fell by 1.09% or $-0.12/share to $10.86. In the past year, the shares have traded as low as $10.74 and as high as $19.10. On average, 250310 shares of WX exchange hands on a given day and today's volume is recorded at 48112. 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 $11.96 area but be careful because the stock may face selling pressure at this level.
Shares of Sterlite Industries (India) Ltd. (SLT) fell by 3.54% or $-0.25/share to $6.68. In the past year, the shares have traded as low as $6.70 and as high as $17.05. On average, 1249720 shares of SLT exchange hands on a given day and today's volume is recorded at 280944. 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 $8.64 area but be careful because the stock may face selling pressure at this level.
