Among the most volatile stocks traded on April 16 were: Cobalt International Energy, Inc, Pendrell Corporation, Alderon Iron Ore Corp, 3D Systems Corp, and InvenSense, 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 Cobalt International Energy, Inc. (CIE) fell by 10.82% or $-3.07/share to $25.31. In the past year, the shares have traded as low as $6.30 and as high as $36.51. On average, 3014870 shares of CIE exchange hands on a given day and today's volume is recorded at 3816785. 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 $29.63 represents resistance and the 200-day moving average of $16.36 would be an area of support.
Shares of Pendrell Corporation (PCO) fell by 47.93% or $-1.04/share to $1.13. In the past year, the shares have traded as low as $1.96 and as high as $3.26. On average, 410280 shares of PCO exchange hands on a given day and today's volume is recorded at 8733582. 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 $2.54 area but be careful because the stock may face selling pressure at this level.
Shares of Alderon Iron Ore Corp. (AXX) traded higher by 0.86% or $0.03/share to $3.5. In the past year, the shares have traded as low as $1.69 and as high as $4.03. On average, 7940 shares of AXX exchange hands on a given day and today's volume is recorded at 43200. 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 $3.23 area where the stock will likely see buying pressure.
Shares of 3D Systems Corp. (DDD) traded higher by 11.59% or $2.83/share to $27.25. In the past year, the shares have traded as low as $12.78 and as high as $27.28. On average, 758290 shares of DDD exchange hands on a given day and today's volume is recorded at 1159669. 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 $22.55 area where the stock will likely see buying pressure.
Shares of InvenSense, Inc. (INVN) fell by 3.53% or $-0.55/share to $15.03. In the past year, the shares have traded as low as $8.25 and as high as $22.35. On average, 1866150 shares of INVN exchange hands on a given day and today's volume is recorded at 726479. 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 $17.85 represents resistance and the 200-day moving average of $14.67 would be an area of support.
