Among the most volatile stocks traded on May 24 were: Hecla Mining Co, Silicon Motion Technology Corp, LDK Solar Co., Ltd, MakeMyTrip Limited, and STAAR Surgical Company. 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 Hecla Mining Co. (HL) traded higher by 4.18% or $0.18/share to $4.49. In the past year, the shares have traded as low as $3.70 and as high as $8.60. On average, 5511860 shares of HL exchange hands on a given day and today's volume is recorded at 5317459. 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 $5.51 represents resistance and the 50-day moving average of $4.25 would be an area of support.
Shares of Silicon Motion Technology Corp. (SIMO) fell by 2.43% or $-0.33/share to $13.27. In the past year, the shares have traded as low as $8.27 and as high as $24.98. On average, 781960 shares of SIMO exchange hands on a given day and today's volume is recorded at 135882. 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 $17.22 area where the stock may encounter resistance.
Shares of LDK Solar Co., Ltd. (LDK) fell by 6.23% or $-0.19/share to $2.86. In the past year, the shares have traded as low as $2.54 and as high as $7.75. On average, 1458140 shares of LDK exchange hands on a given day and today's volume is recorded at 418832. 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 $3.45 area but be careful because the stock may face selling pressure at this level.
Shares of MakeMyTrip Limited (MMYT) fell by 7.7% or $-1.30/share to $15.59. In the past year, the shares have traded as low as $16.00 and as high as $33.90. On average, 122590 shares of MMYT exchange hands on a given day and today's volume is recorded at 37901. 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 $20.31 area but be careful because the stock may face selling pressure at this level.
Shares of STAAR Surgical Company (STAA) fell by 0.56% or $-0.05/share to $8.89. In the past year, the shares have traded as low as $4.48 and as high as $11.79. On average, 176410 shares of STAA exchange hands on a given day and today's volume is recorded at 39970. 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 $9.72 area where the stock may encounter resistance.
