Stocks falling to new 52 week lows on May 2 are RadioShack Corp, Pampa Energia SA, GFI Group Inc, Resolute Forest Products, and Ivanhoe Mines 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 RadioShack Corp. (RSH) fell by 2.71% or $-0.14/share to $5.03. In the past year, the shares have traded as low as $5.15 and as high as $15.70. On average, 4814220 shares of RSH exchange hands on a given day and today's volume is recorded at 3106508. 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 $6.38 area but be careful because the stock may face selling pressure at this level.
Shares of Pampa Energia SA (PAM) fell by 5.22% or $-0.35/share to $6.36. In the past year, the shares have traded as low as $6.51 and as high as $16.02. On average, 87250 shares of PAM exchange hands on a given day and today's volume is recorded at 26354. 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 $8.84 area but be careful because the stock may face selling pressure at this level.
Shares of GFI Group Inc. (GFIG) fell by 3.15% or $-0.10/share to $3.07. In the past year, the shares have traded as low as $3.08 and as high as $4.90. On average, 273570 shares of GFIG exchange hands on a given day and today's volume is recorded at 81473. 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 $3.65 area but be careful because the stock may face selling pressure at this level.
Shares of Resolute Forest Products (ABH) fell by 3.8% or $-0.48/share to $12.14. In the past year, the shares have traded as low as $12.45 and as high as $27.22. On average, 218180 shares of ABH exchange hands on a given day and today's volume is recorded at 136285. 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 $14.37 area but be careful because the stock may face selling pressure at this level.
Shares of Ivanhoe Mines Ltd. (IVN) fell by 2.7% or $-0.31/share to $11.18. In the past year, the shares have traded as low as $11.25 and as high as $27.50. On average, 3308050 shares of IVN exchange hands on a given day and today's volume is recorded at 1264168. 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 $15.45 area but be careful because the stock may face selling pressure at this level.
