Stocks falling to new 52 week lows on April 23 are Pan American Silver Corp, First Solar, Inc, Gafisa S.A, Allied Nevada Gold Corp, and McMoRan Exploration Co. 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 Pan American Silver Corp. (PAAS) fell by 2.97% or $-0.57/share to $18.61. In the past year, the shares have traded as low as $19.15 and as high as $37.94. On average, 2013370 shares of PAAS exchange hands on a given day and today's volume is recorded at 961950. 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 $22.40 area but be careful because the stock may face selling pressure at this level.
Shares of First Solar, Inc. (FSLR) fell by 5.57% or $-1.15/share to $19.5. In the past year, the shares have traded as low as $20.02 and as high as $145.20. On average, 6248140 shares of FSLR exchange hands on a given day and today's volume is recorded at 3424482. 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 $29.11 area but be careful because the stock may face selling pressure at this level.
Shares of Gafisa S.A. (GFA) fell by 5.08% or $-0.21/share to $3.92. In the past year, the shares have traded as low as $4.11 and as high as $12.84. On average, 3373890 shares of GFA exchange hands on a given day and today's volume is recorded at 1291440. 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 $5.34 area but be careful because the stock may face selling pressure at this level.
Shares of Allied Nevada Gold Corp. (ANV) fell by 3.95% or $-1.14/share to $27.74. In the past year, the shares have traded as low as $28.56 and as high as $45.90. On average, 715750 shares of ANV exchange hands on a given day and today's volume is recorded at 603910. 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 $32.34 area but be careful because the stock may face selling pressure at this level.
Shares of McMoRan Exploration Co. (MMR) fell by 3.78% or $-0.31/share to $7.89. In the past year, the shares have traded as low as $8.17 and as high as $19.17. On average, 3026890 shares of MMR exchange hands on a given day and today's volume is recorded at 1119821. 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 $12.16 area but be careful because the stock may face selling pressure at this level.
