Stocks falling to new 52 week lows on May 15 are HudBay Minerals, Inc, Cresud Sociedad An, Silver Standard Resources Inc, Pan American Silver Corp, and Mechel OAO. 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 HudBay Minerals, Inc. (HBM) fell by 3.03% or $-0.26/share to $8.31. In the past year, the shares have traded as low as $8.55 and as high as $15.71. On average, 34590 shares of HBM exchange hands on a given day and today's volume is recorded at 11253. 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 $10.78 area but be careful because the stock may face selling pressure at this level.
Shares of Cresud Sociedad An (CRESY) fell by 5.7% or $-0.50/share to $8.27. In the past year, the shares have traded as low as $8.53 and as high as $17.14. On average, 206630 shares of CRESY exchange hands on a given day and today's volume is recorded at 222073. 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 $11.15 area but be careful because the stock may face selling pressure at this level.
Shares of Silver Standard Resources Inc. (SSRI) fell by 3.5% or $-0.39/share to $10.74. In the past year, the shares have traded as low as $11.09 and as high as $31.75. On average, 943920 shares of SSRI exchange hands on a given day and today's volume is recorded at 702352. 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 $14.17 area but be careful because the stock may face selling pressure at this level.
Shares of Pan American Silver Corp. (PAAS) fell by 2.51% or $-0.40/share to $15.52. In the past year, the shares have traded as low as $15.92 and as high as $34.48. On average, 1897610 shares of PAAS exchange hands on a given day and today's volume is recorded at 2080146. 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 $20.25 area but be careful because the stock may face selling pressure at this level.
Shares of Mechel OAO (MTL) fell by 3.98% or $-0.27/share to $6.52. In the past year, the shares have traded as low as $6.77 and as high as $27.43. On average, 3272820 shares of MTL exchange hands on a given day and today's volume is recorded at 1099562. 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 $9.11 area but be careful because the stock may face selling pressure at this level.
