Among the most volatile stocks traded on April 24 were: Align Technology Inc, II-VI Inc, Achillion Pharmaceuticals, Inc, Janus Capital Group, Inc, and Ceradyne Inc. 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 Align Technology Inc. (ALGN) traded higher by 14.94% or $4.10/share to $31.54. In the past year, the shares have traded as low as $14.25 and as high as $29.65. On average, 676310 shares of ALGN exchange hands on a given day and today's volume is recorded at 2179586. 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 $26.95 area where the stock will likely see buying pressure.
Shares of II-VI Inc. (IIVI) traded higher by 5.0% or $1.04/share to $21.83. In the past year, the shares have traded as low as $15.80 and as high as $29.95. On average, 262190 shares of IIVI exchange hands on a given day and today's volume is recorded at 187228. 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 $23.02 represents resistance and the 200-day moving average of $20.92 would be an area of support.
Shares of Achillion Pharmaceuticals, Inc. (ACHN) traded higher by 4.15% or $0.28/share to $7.03. In the past year, the shares have traded as low as $3.81 and as high as $12.95. On average, 1464300 shares of ACHN exchange hands on a given day and today's volume is recorded at 467785. 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 $7.74 area where the stock may encounter resistance.
Shares of Janus Capital Group, Inc. (JNS) fell by 2.65% or $-0.21/share to $7.72. In the past year, the shares have traded as low as $5.29 and as high as $12.49. On average, 3574870 shares of JNS exchange hands on a given day and today's volume is recorded at 1927242. 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 $8.75 represents resistance and the 200-day moving average of $7.34 would be an area of support.
Shares of Ceradyne Inc. (CRDN) fell by 12.95% or $-4.03/share to $27.1. In the past year, the shares have traded as low as $24.54 and as high as $53.30. On average, 183370 shares of CRDN exchange hands on a given day and today's volume is recorded at 465760. 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 $30.45 area where the stock may encounter resistance.
