Stocks falling to new 52 week lows on March 22 are AngloGold Ashanti Ltd, Eldorado Gold Corp, and TransAlta 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 AngloGold Ashanti Ltd. (AU) fell by 1.77% or $-0.67/share to $37.21. In the past year, the shares have traded as low as $37.07 and as high as $51.08. On average, 1680490 shares of AU exchange hands on a given day and today's volume is recorded at 610393. 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 $42.64 area but be careful because the stock may face selling pressure at this level.
Shares of Eldorado Gold Corp. (EGO) fell by 1.37% or $-0.18/share to $12.93. In the past year, the shares have traded as low as $12.76 and as high as $21.97. On average, 3630470 shares of EGO exchange hands on a given day and today's volume is recorded at 1163933. 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 $14.17 area but be careful because the stock may face selling pressure at this level.
Shares of TransAlta Corp. (TAC) fell by 1.67% or $-0.32/share to $18.87. In the past year, the shares have traded as low as $18.86 and as high as $22.47. On average, 68360 shares of TAC exchange hands on a given day and today's volume is recorded at 42945. 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 $20.12 area but be careful because the stock may face selling pressure at this level.
