Stocks falling to new 52 week lows on December 12 are ICICI Bank Ltd, Sterlite Industries (India) Ltd, Pandora Media, Inc, NII Holdings Inc, and Exelis, 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 ICICI Bank Ltd. (IBN) fell by 7.52% or $-2.13/share to $26.2. In the past year, the shares have traded as low as $27.21 and as high as $50.83. On average, 2475650 shares of IBN exchange hands on a given day and today's volume is recorded at 1189020. 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 $33.03 area but be careful because the stock may face selling pressure at this level.
Shares of Sterlite Industries (India) Ltd. (SLT) fell by 7.27% or $-0.58/share to $7.4. In the past year, the shares have traded as low as $7.64 and as high as $17.04. On average, 1281130 shares of SLT exchange hands on a given day and today's volume is recorded at 510225. 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 $9.14 area but be careful because the stock may face selling pressure at this level.
Shares of Pandora Media, Inc. (P) fell by 5.05% or $-0.50/share to $9.4. In the past year, the shares have traded as low as $9.33 and as high as $26.00. On average, 751170 shares of P exchange hands on a given day and today's volume is recorded at 1581402. 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 $13.24 area but be careful because the stock may face selling pressure at this level.
Shares of NII Holdings Inc. (NIHD) fell by 2.37% or $-0.48/share to $19.75. In the past year, the shares have traded as low as $20.02 and as high as $46.32. On average, 3112380 shares of NIHD exchange hands on a given day and today's volume is recorded at 564703. 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 $24.75 area but be careful because the stock may face selling pressure at this level.
Shares of Exelis, Inc. (XLS) fell by 1.83% or $-0.16/share to $8.6. In the past year, the shares have traded as low as $8.67 and as high as $13.37. On average, 3000450 shares of XLS exchange hands on a given day and today's volume is recorded at 405198. 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 $10.14 area but be careful because the stock may face selling pressure at this level.
