Stocks falling to new 52 week lows on May 15 are Lone Pine Resources Inc, Cellcom Israel Ltd, Patriot Coal Corporation, McEwen Mining Inc, and Partner Communications Company 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 Lone Pine Resources Inc. (LPR) fell by 21.91% or $-1.08/share to $3.85. In the past year, the shares have traded as low as $4.87 and as high as $13.09. On average, 407160 shares of LPR exchange hands on a given day and today's volume is recorded at 1804066. 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 $6.32 area but be careful because the stock may face selling pressure at this level.
Shares of Cellcom Israel Ltd. (CEL) fell by 14.74% or $-1.54/share to $8.91. In the past year, the shares have traded as low as $10.28 and as high as $27.98. On average, 302450 shares of CEL exchange hands on a given day and today's volume is recorded at 1323548. 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 $12.02 area but be careful because the stock may face selling pressure at this level.
Shares of Patriot Coal Corporation (PCX) fell by 13.23% or $-0.64/share to $4.19. In the past year, the shares have traded as low as $4.82 and as high as $24.99. On average, 7086730 shares of PCX exchange hands on a given day and today's volume is recorded at 9464974. 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 $6.13 area but be careful because the stock may face selling pressure at this level.
Shares of McEwen Mining Inc. (MUX) fell by 11.99% or $-0.32/share to $2.38. In the past year, the shares have traded as low as $2.69 and as high as $7.33. On average, 2423290 shares of MUX exchange hands on a given day and today's volume is recorded at 2929547. 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 $3.90 area but be careful because the stock may face selling pressure at this level.
Shares of Partner Communications Company Ltd. (PTNR) fell by 10.82% or $-0.70/share to $5.77. In the past year, the shares have traded as low as $6.41 and as high as $17.52. On average, 143880 shares of PTNR exchange hands on a given day and today's volume is recorded at 373861. 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 $7.34 area but be careful because the stock may face selling pressure at this level.
