Among the most volatile stocks traded on April 16 were: Halozyme Therapeutics, Inc, Spreadtrum Communications Inc, Stratasys Inc, Renren Inc, and ArQule 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 Halozyme Therapeutics, Inc. (HALO) fell by 24.84% or $-2.80/share to $8.47. In the past year, the shares have traded as low as $5.54 and as high as $13.50. On average, 964240 shares of HALO exchange hands on a given day and today's volume is recorded at 5508046. 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 $8.80 area where the stock may encounter resistance.
Shares of Spreadtrum Communications Inc. (SPRD) fell by 12.38% or $-2.10/share to $14.86. In the past year, the shares have traded as low as $8.45 and as high as $29.65. On average, 1193810 shares of SPRD exchange hands on a given day and today's volume is recorded at 1929066. 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 $15.88 area but be careful because the stock may face selling pressure at this level.
Shares of Stratasys Inc. (SSYS) traded higher by 19.51% or $7.02/share to $43.0. In the past year, the shares have traded as low as $17.88 and as high as $55.66. On average, 167720 shares of SSYS exchange hands on a given day and today's volume is recorded at 721284. 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 $36.85 area where the stock will likely see buying pressure.
Shares of Renren Inc. (RENN) traded higher by 3.48% or $0.26/share to $7.59. In the past year, the shares have traded as low as $1.82 and as high as $24.02. On average, 10587970 shares of RENN exchange hands on a given day and today's volume is recorded at 16885168. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $5.92 area.
Shares of ArQule Inc. (ARQL) fell by 2.67% or $-0.20/share to $7.28. In the past year, the shares have traded as low as $3.98 and as high as $8.32. On average, 515690 shares of ARQL exchange hands on a given day and today's volume is recorded at 466197. 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 $7.50 represents resistance and the 200-day moving average of $6.03 would be an area of support.
