Stocks falling to new 52 week lows on May 31 are Portugal Telecom SGPS SA, Enduro Royalty Trust, Bill Barrett Corp, Facebook, Inc, and San Juan Basin Royalty Trust. 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 Portugal Telecom SGPS SA (PT) fell by 2.3% or $-0.09/share to $3.82. In the past year, the shares have traded as low as $3.90 and as high as $9.47. On average, 349680 shares of PT exchange hands on a given day and today's volume is recorded at 585924. 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 $4.59 area but be careful because the stock may face selling pressure at this level.
Shares of Enduro Royalty Trust (NDRO) fell by 4.08% or $-0.70/share to $16.45. In the past year, the shares have traded as low as $17.06 and as high as $21.44. On average, 73700 shares of NDRO exchange hands on a given day and today's volume is recorded at 108534. 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 $19.77 area where the stock may encounter resistance.
Shares of Bill Barrett Corp. (BBG) fell by 3.5% or $-0.69/share to $19.04. In the past year, the shares have traded as low as $19.45 and as high as $52.14. On average, 1434450 shares of BBG exchange hands on a given day and today's volume is recorded at 771866. 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 $23.30 area but be careful because the stock may face selling pressure at this level.
Shares of Facebook, Inc. (FB) fell by 3.37% or $-0.95/share to $27.24. In the past year, the shares have traded as low as $27.86 and as high as $45.00. On average, 142481830 shares of FB exchange hands on a given day and today's volume is recorded at 29229608. 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 $32.15 area but be careful because the stock may face selling pressure at this level.
Shares of San Juan Basin Royalty Trust (SJT) fell by 8.32% or $-1.23/share to $13.55. In the past year, the shares have traded as low as $14.01 and as high as $24.27. On average, 327520 shares of SJT exchange hands on a given day and today's volume is recorded at 346031. 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 $17.60 area but be careful because the stock may face selling pressure at this level.
