Stocks falling to new 52 week lows on May 17 are MEMC Electronic Materials Inc, BBVA Banco Frances S.A, NII Holdings Inc, Mechel OAO, and Cellcom Israel 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 MEMC Electronic Materials Inc. (WFR) fell by 15.97% or $-0.34/share to $1.79. In the past year, the shares have traded as low as $2.07 and as high as $10.84. On average, 7040550 shares of WFR exchange hands on a given day and today's volume is recorded at 6409024. 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 $3.51 area but be careful because the stock may face selling pressure at this level.
Shares of BBVA Banco Frances S.A. (BFR) fell by 6.58% or $-0.27/share to $3.9. In the past year, the shares have traded as low as $4.15 and as high as $10.60. On average, 141870 shares of BFR exchange hands on a given day and today's volume is recorded at 84149. 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 $5.41 area but be careful because the stock may face selling pressure at this level.
Shares of NII Holdings Inc. (NIHD) fell by 7.0% or $-0.85/share to $11.35. In the past year, the shares have traded as low as $12.12 and as high as $44.03. On average, 3920730 shares of NIHD exchange hands on a given day and today's volume is recorded at 2057676. 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 $16.55 area but be careful because the stock may face selling pressure at this level.
Shares of Mechel OAO (MTL) fell by 3.74% or $-0.24/share to $6.18. In the past year, the shares have traded as low as $6.35 and as high as $27.43. On average, 3313660 shares of MTL exchange hands on a given day and today's volume is recorded at 2265029. 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 $8.96 area but be careful because the stock may face selling pressure at this level.
Shares of Cellcom Israel Ltd. (CEL) fell by 6.97% or $-0.60/share to $8.01. In the past year, the shares have traded as low as $8.40 and as high as $27.98. On average, 357240 shares of CEL exchange hands on a given day and today's volume is recorded at 385087. 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 $11.86 area but be careful because the stock may face selling pressure at this level.
