Stocks falling to new 52 week lows on April 9 are Blue Nile Inc, Augusta Resource Corp, Ultra Petroleum Corp, Polycom, Inc, and Patriot Coal Corporation. 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 Blue Nile Inc. (NILE) fell by 3.14% or $-0.93/share to $28.66. In the past year, the shares have traded as low as $29.53 and as high as $59.14. On average, 319300 shares of NILE exchange hands on a given day and today's volume is recorded at 71305. 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 $36.50 area but be careful because the stock may face selling pressure at this level.
Shares of Augusta Resource Corp. (AZC) fell by 0.89% or $-0.02/share to $2.22. In the past year, the shares have traded as low as $2.17 and as high as $5.58. On average, 221700 shares of AZC exchange hands on a given day and today's volume is recorded at 58468. 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 $3.00 area but be careful because the stock may face selling pressure at this level.
Shares of Ultra Petroleum Corp. (UPL) fell by 0.94% or $-0.19/share to $20.51. In the past year, the shares have traded as low as $20.63 and as high as $51.19. On average, 3720640 shares of UPL exchange hands on a given day and today's volume is recorded at 1076234. 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 $23.70 area but be careful because the stock may face selling pressure at this level.
Shares of Polycom, Inc. (PLCM) fell by 3.23% or $-0.47/share to $14.09. In the past year, the shares have traded as low as $14.41 and as high as $34.30. On average, 3056730 shares of PLCM exchange hands on a given day and today's volume is recorded at 2299764. 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 $19.85 area but be careful because the stock may face selling pressure at this level.
Shares of Patriot Coal Corporation (PCX) traded higher by 0.35% or $0.02/share to $5.72. In the past year, the shares have traded as low as $5.67 and as high as $27.23. On average, 7447960 shares of PCX exchange hands on a given day and today's volume is recorded at 1404589. 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 $7.33 area but be careful because the stock may face selling pressure at this level.
