Among the most volatile stocks traded on May 7 were: Frontier Communications Corporation, Spanish Broadcasting System Inc, Inteliquent, Inc, Sucampo Pharmaceuticals, Inc, and Cognizant Technology Solutions Corporation. 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 Frontier Communications Corporation (FTR) fell by 7.2% or $-0.28/share to $3.61. In the past year, the shares have traded as low as $3.72 and as high as $8.07. On average, 17227810 shares of FTR exchange hands on a given day and today's volume is recorded at 12744429. 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 $4.23 area but be careful because the stock may face selling pressure at this level.
Shares of Spanish Broadcasting System Inc. (SBSA) fell by 5.57% or $-0.35/share to $5.85. In the past year, the shares have traded as low as $0.95 and as high as $9.31. On average, 206740 shares of SBSA exchange hands on a given day and today's volume is recorded at 80459. 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 $5.32 area where the stock will likely see buying pressure.
Shares of Inteliquent, Inc. (IQNT) traded higher by 2.89% or $0.32/share to $11.4. In the past year, the shares have traded as low as $9.02 and as high as $17.69. On average, 127980 shares of IQNT exchange hands on a given day and today's volume is recorded at 57638. 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 $11.61 represents resistance and the 200-day moving average of $11.32 would be an area of support.
Shares of Sucampo Pharmaceuticals, Inc. (SCMP) fell by 3.45% or $-0.27/share to $7.56. In the past year, the shares have traded as low as $2.75 and as high as $8.50. On average, 63220 shares of SCMP exchange hands on a given day and today's volume is recorded at 22098. 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 $7.77 represents resistance and the 200-day moving average of $5.05 would be an area of support.
Shares of Cognizant Technology Solutions Corporation (CTSH) fell by 17.99% or $-12.53/share to $57.13. In the past year, the shares have traded as low as $53.54 and as high as $78.75. On average, 2152800 shares of CTSH exchange hands on a given day and today's volume is recorded at 15800645. 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 $68.91 area where the stock may encounter resistance.
