Among the most volatile stocks traded on April 23 were: Wolverine World Wide Inc, Central European Distribution Corp, KIT digital, Inc, Scientific Games Corporation, and Texas Industries 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 Wolverine World Wide Inc. (WWW) fell by 4.14% or $-1.57/share to $36.32. In the past year, the shares have traded as low as $30.47 and as high as $42.94. On average, 487240 shares of WWW exchange hands on a given day and today's volume is recorded at 187236. 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 $36.70 area where the stock may encounter resistance.
Shares of Central European Distribution Corp. (CEDC) traded higher by 13.88% or $0.59/share to $4.84. In the past year, the shares have traded as low as $2.75 and as high as $13.13. On average, 1228330 shares of CEDC exchange hands on a given day and today's volume is recorded at 1139440. 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 $4.98 area but be careful because the stock may face selling pressure at this level.
Shares of KIT digital, Inc. (KITD) fell by 4.29% or $-0.30/share to $6.69. In the past year, the shares have traded as low as $5.93 and as high as $12.73. On average, 1270000 shares of KITD exchange hands on a given day and today's volume is recorded at 398302. 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 $8.87 area but be careful because the stock may face selling pressure at this level.
Shares of Scientific Games Corporation (SGMS) fell by 2.07% or $-0.24/share to $11.14. In the past year, the shares have traded as low as $6.50 and as high as $13.09. On average, 674710 shares of SGMS exchange hands on a given day and today's volume is recorded at 89559. 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 $11.47 represents resistance and the 200-day moving average of $9.58 would be an area of support.
Shares of Texas Industries Inc. (TXI) fell by 3.87% or $-1.33/share to $33.04. In the past year, the shares have traded as low as $21.89 and as high as $43.01. On average, 241570 shares of TXI exchange hands on a given day and today's volume is recorded at 28998. 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 $33.06 area where the stock may encounter resistance.
