Stocks falling to new 52 week lows on May 23 are Cellcom Israel Ltd, Gafisa S.A, GT Advanced Technologies Inc, Sycamore Networks Inc, and Nokia Corporation. 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 Cellcom Israel Ltd. (CEL) fell by 5.91% or $-0.47/share to $7.48. In the past year, the shares have traded as low as $7.77 and as high as $27.91. On average, 379360 shares of CEL exchange hands on a given day and today's volume is recorded at 311641. 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 $11.52 area but be careful because the stock may face selling pressure at this level.
Shares of Gafisa S.A. (GFA) fell by 4.74% or $-0.12/share to $2.41. In the past year, the shares have traded as low as $2.52 and as high as $11.08. On average, 2825120 shares of GFA exchange hands on a given day and today's volume is recorded at 1809284. 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 $4.32 area but be careful because the stock may face selling pressure at this level.
Shares of GT Advanced Technologies Inc. (GTAT) fell by 3.83% or $-0.16/share to $4.02. In the past year, the shares have traded as low as $4.17 and as high as $17.50. On average, 2980370 shares of GTAT exchange hands on a given day and today's volume is recorded at 1070383. 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 $7.03 area but be careful because the stock may face selling pressure at this level.
Shares of Sycamore Networks Inc. (SCMR) fell by 3.52% or $-0.51/share to $13.99. In the past year, the shares have traded as low as $14.43 and as high as $24.84. On average, 73950 shares of SCMR exchange hands on a given day and today's volume is recorded at 144401. 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 $16.48 area but be careful because the stock may face selling pressure at this level.
Shares of Nokia Corporation (NOK) fell by 5.9% or $-0.17/share to $2.71. In the past year, the shares have traded as low as $2.79 and as high as $7.63. On average, 39448600 shares of NOK exchange hands on a given day and today's volume is recorded at 38060824. 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 $3.95 area but be careful because the stock may face selling pressure at this level.
