Stocks falling to new 52 week lows on April 9 are Millennial Media Inc, EXCO Resources Inc, Petrobras Argentina SA, Groupon, Inc, and Advantage Oil & Gas Ltd. 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 Millennial Media Inc. (MM) fell by 2.71% or $-0.50/share to $17.92. In the past year, the shares have traded as low as $18.42 and as high as $27.90. On average, 4111029 shares of MM exchange hands on a given day and today's volume is recorded at 648759. 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 $21.76 area but be careful because the stock may face selling pressure at this level.
Shares of EXCO Resources Inc. (XCO) fell by 2.85% or $-0.18/share to $6.14. In the past year, the shares have traded as low as $6.27 and as high as $20.72. On average, 6199250 shares of XCO exchange hands on a given day and today's volume is recorded at 2177926. 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 $7.14 area but be careful because the stock may face selling pressure at this level.
Shares of Petrobras Argentina SA (PZE) fell by 2.08% or $-0.24/share to $11.35. In the past year, the shares have traded as low as $11.44 and as high as $23.72. On average, 86360 shares of PZE exchange hands on a given day and today's volume is recorded at 33592. 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 $14.21 area but be careful because the stock may face selling pressure at this level.
Shares of Groupon, Inc. (GRPN) fell by 2.26% or $-0.32/share to $13.86. In the past year, the shares have traded as low as $14.01 and as high as $31.14. On average, 2459380 shares of GRPN exchange hands on a given day and today's volume is recorded at 731873. 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 $18.95 area but be careful because the stock may face selling pressure at this level.
Shares of Advantage Oil & Gas Ltd. (AAV) fell by 1.63% or $-0.05/share to $3.01. In the past year, the shares have traded as low as $3.05 and as high as $9.29. On average, 484830 shares of AAV exchange hands on a given day and today's volume is recorded at 185608. 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 $3.69 area but be careful because the stock may face selling pressure at this level.
