Among the most volatile stocks traded on May 15 were: Pandora Media, Inc, Arena Pharmaceuticals, Inc, McEwen Mining Inc, Millennial Media Inc, and Ambow Education Holding Ltd. 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 Pandora Media, Inc. (P) traded higher by 5.3% or $0.52/share to $10.34. In the past year, the shares have traded as low as $7.83 and as high as $26.00. On average, 3097240 shares of P exchange hands on a given day and today's volume is recorded at 2494219. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $11.83 represents resistance and the 50-day moving average of $9.76 would be an area of support.
Shares of Arena Pharmaceuticals, Inc. (ARNA) fell by 7.7% or $-0.51/share to $6.1. In the past year, the shares have traded as low as $1.23 and as high as $7.02. On average, 13478540 shares of ARNA exchange hands on a given day and today's volume is recorded at 11164064. 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 $2.65 area where the stock will likely see buying pressure.
Shares of McEwen Mining Inc. (MUX) fell by 8.49% or $-0.23/share to $2.48. In the past year, the shares have traded as low as $2.70 and as high as $7.35. On average, 2423290 shares of MUX exchange hands on a given day and today's volume is recorded at 1444460. 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 $3.91 area but be careful because the stock may face selling pressure at this level.
Shares of Millennial Media Inc. (MM) fell by 9.19% or $-1.42/share to $14.03. In the past year, the shares have traded as low as $14.38 and as high as $27.90. On average, 1179020 shares of MM exchange hands on a given day and today's volume is recorded at 721623. 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 $18.77 area but be careful because the stock may face selling pressure at this level.
Shares of Ambow Education Holding Ltd. (AMBO) fell by 0.17% or $-0.01/share to $5.88. In the past year, the shares have traded as low as $4.56 and as high as $8.15. On average, 75730 shares of AMBO exchange hands on a given day and today's volume is recorded at 33931. 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 $6.85 area where the stock may encounter resistance.
