Among the most volatile stocks traded on January 23 were: Mellanox Technologies, Ltd, Goodrich Petroleum Corp, China Ming Yang Wind Power Group Limited, Yingli Green Energy Holding Co. Ltd, and MGIC Investment Corp. 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 Mellanox Technologies, Ltd. (MLNX) fell by 9.55% or $-3.21/share to $30.41. In the past year, the shares have traded as low as $23.67 and as high as $37.43. On average, 225040 shares of MLNX exchange hands on a given day and today's volume is recorded at 734336. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $31.34 area where the stock may encounter resistance.
Shares of Goodrich Petroleum Corp. (GDP) traded higher by 6.9% or $0.97/share to $15.03. In the past year, the shares have traded as low as $9.91 and as high as $23.80. On average, 820210 shares of GDP exchange hands on a given day and today's volume is recorded at 556391. 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 $16.69 represents resistance and the 50-day moving average of $14.51 would be an area of support.
Shares of China Ming Yang Wind Power Group Limited (MY) traded higher by 2.07% or $0.06/share to $2.96. In the past year, the shares have traded as low as $1.18 and as high as $10.96. On average, 342850 shares of MY exchange hands on a given day and today's volume is recorded at 82314. 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 $4.48 represents resistance and the 50-day moving average of $2.11 would be an area of support.
Shares of Yingli Green Energy Holding Co. Ltd. (YGE) fell by 4.1% or $-0.18/share to $4.21. In the past year, the shares have traded as low as $2.75 and as high as $13.59. On average, 3506180 shares of YGE exchange hands on a given day and today's volume is recorded at 2136377. 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 $6.42 represents resistance and the 50-day moving average of $4.03 would be an area of support.
Shares of MGIC Investment Corp. (MTG) fell by 3.55% or $-0.15/share to $4.07. In the past year, the shares have traded as low as $1.51 and as high as $10.42. On average, 7603360 shares of MTG exchange hands on a given day and today's volume is recorded at 2535174. 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 $4.51 represents resistance and the 50-day moving average of $3.44 would be an area of support.
