Stocks falling to new 52 week lows on May 8 are Synchronoss Technologies, Inc, Blue Nile Inc, NovaGold Resources Inc, Seabridge Gold, Inc, and Alumina Ltd. 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 Synchronoss Technologies, Inc. (SNCR) fell by 24.66% or $-6.99/share to $21.35. In the past year, the shares have traded as low as $22.54 and as high as $38.90. On average, 387150 shares of SNCR exchange hands on a given day and today's volume is recorded at 2765909. 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 $30.05 area where the stock may encounter resistance.
Shares of Blue Nile Inc. (NILE) fell by 7.3% or $-2.12/share to $26.94. In the past year, the shares have traded as low as $27.79 and as high as $52.54. On average, 326580 shares of NILE exchange hands on a given day and today's volume is recorded at 404566. 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 $32.30 area but be careful because the stock may face selling pressure at this level.
Shares of NovaGold Resources Inc. (NG) fell by 9.17% or $-0.52/share to $5.15. In the past year, the shares have traded as low as $5.49 and as high as $11.77. On average, 4079540 shares of NG exchange hands on a given day and today's volume is recorded at 2995447. 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 $7.10 area but be careful because the stock may face selling pressure at this level.
Shares of Seabridge Gold, Inc. (SA) fell by 4.52% or $-0.69/share to $14.56. In the past year, the shares have traded as low as $15.10 and as high as $31.38. On average, 326920 shares of SA exchange hands on a given day and today's volume is recorded at 254433. 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 $19.63 area but be careful because the stock may face selling pressure at this level.
Shares of Alumina Ltd. (AWC) fell by 6.59% or $-0.28/share to $3.97. In the past year, the shares have traded as low as $4.23 and as high as $9.89. On average, 311030 shares of AWC exchange hands on a given day and today's volume is recorded at 257205. 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 $5.02 area but be careful because the stock may face selling pressure at this level.
