Stocks falling to new 52 week lows on May 18 are Zipcar, Inc, ECA Marcellus Trust I, GFI Group Inc, Braskem S.A, and Oaktree Capital Group, LLC. 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 Zipcar, Inc. (ZIP) fell by 3.72% or $-0.36/share to $9.31. In the past year, the shares have traded as low as $9.56 and as high as $26.37. On average, 433160 shares of ZIP exchange hands on a given day and today's volume is recorded at 164668. 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 $12.95 area but be careful because the stock may face selling pressure at this level.
Shares of ECA Marcellus Trust I (ECT) fell by 3.64% or $-0.67/share to $17.75. In the past year, the shares have traded as low as $18.02 and as high as $25.88. On average, 89750 shares of ECT exchange hands on a given day and today's volume is recorded at 102128. 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 $20.04 area but be careful because the stock may face selling pressure at this level.
Shares of GFI Group Inc. (GFIG) fell by 3.07% or $-0.08/share to $2.53. In the past year, the shares have traded as low as $2.61 and as high as $4.79. On average, 278630 shares of GFIG exchange hands on a given day and today's volume is recorded at 139109. 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 $3.39 area but be careful because the stock may face selling pressure at this level.
Shares of Braskem S.A. (BAK) fell by 2.7% or $-0.30/share to $10.8. In the past year, the shares have traded as low as $11.09 and as high as $30.88. On average, 514280 shares of BAK exchange hands on a given day and today's volume is recorded at 417469. 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 $14.88 area but be careful because the stock may face selling pressure at this level.
Shares of Oaktree Capital Group, LLC (OAK) fell by 4.28% or $-1.64/share to $36.7. In the past year, the shares have traded as low as $37.82 and as high as $42.55. On average, 514110 shares of OAK exchange hands on a given day and today's volume is recorded at 98514. 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 $40.33 area but be careful because the stock may face selling pressure at this level.
