Stocks falling to new 52 week lows on April 23 are Barrick Gold Corporation, Newmont Mining Corp, Kinross Gold Corporation, Bill Barrett Corp, and Arch Coal Inc. 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 Barrick Gold Corporation (ABX) fell by 2.06% or $-0.83/share to $39.43. In the past year, the shares have traded as low as $40.22 and as high as $55.61. On average, 7778930 shares of ABX exchange hands on a given day and today's volume is recorded at 4948369. 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 $44.81 area but be careful because the stock may face selling pressure at this level.
Shares of Newmont Mining Corp. (NEM) fell by 2.67% or $-1.26/share to $45.99. In the past year, the shares have traded as low as $47.22 and as high as $71.58. On average, 7085510 shares of NEM exchange hands on a given day and today's volume is recorded at 7506536. 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 $54.55 area but be careful because the stock may face selling pressure at this level.
Shares of Kinross Gold Corporation (KGC) fell by 3.09% or $-0.28/share to $8.79. In the past year, the shares have traded as low as $8.99 and as high as $18.05. On average, 9297350 shares of KGC exchange hands on a given day and today's volume is recorded at 4069834. 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 $10.19 area but be careful because the stock may face selling pressure at this level.
Shares of Bill Barrett Corp. (BBG) fell by 3.44% or $-0.73/share to $20.5. In the past year, the shares have traded as low as $21.13 and as high as $52.14. On average, 1269820 shares of BBG exchange hands on a given day and today's volume is recorded at 503980. 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 $26.67 area but be careful because the stock may face selling pressure at this level.
Shares of Arch Coal Inc. (ACI) fell by 0.53% or $-0.05/share to $9.35. In the past year, the shares have traded as low as $9.40 and as high as $34.19. On average, 10184140 shares of ACI exchange hands on a given day and today's volume is recorded at 5609630. 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 $11.95 area but be careful because the stock may face selling pressure at this level.
