Among the most volatile stocks traded on April 16 were: E-Commerce China Dangdang Inc, Westport Innovations Inc, Gannett Co., Inc, Arena Pharmaceuticals, Inc, and InterOil Corporation. 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 E-Commerce China Dangdang Inc. (DANG) fell by 7.46% or $-0.76/share to $9.43. In the past year, the shares have traded as low as $4.11 and as high as $26.40. On average, 3582820 shares of DANG exchange hands on a given day and today's volume is recorded at 3585626. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $7.53 area where the stock will likely see buying pressure.
Shares of Westport Innovations Inc. (WPRT) fell by 8.32% or $-3.13/share to $34.5. In the past year, the shares have traded as low as $19.66 and as high as $50.19. On average, 2396660 shares of WPRT exchange hands on a given day and today's volume is recorded at 2611345. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $42.53 represents resistance and the 200-day moving average of $32.02 would be an area of support.
Shares of Gannett Co., Inc. (GCI) fell by 8.51% or $-1.28/share to $13.76. In the past year, the shares have traded as low as $8.12 and as high as $16.04. On average, 4018170 shares of GCI exchange hands on a given day and today's volume is recorded at 3708464. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $14.91 represents resistance and the 200-day moving average of $12.52 would be an area of support.
Shares of Arena Pharmaceuticals, Inc. (ARNA) fell by 3.76% or $-0.11/share to $2.77. In the past year, the shares have traded as low as $1.21 and as high as $3.47. On average, 8119790 shares of ARNA exchange hands on a given day and today's volume is recorded at 2871626. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $2.19 area where the stock will likely see buying pressure.
Shares of InterOil Corporation (IOC) fell by 3.3% or $-1.94/share to $56.83. In the past year, the shares have traded as low as $31.18 and as high as $75.87. On average, 788250 shares of IOC exchange hands on a given day and today's volume is recorded at 414489. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $60.92 represents resistance and the 200-day moving average of $56.67 would be an area of support.
